Published May 24, 2019 09:39AM ET
Updated May 24, 2019 12:00PM ET
Russian Wages Jump in April, Exceeding All Expectations
(Bloomberg) -- Wages in Russia unexpectedly grew in March and April as inflation began to retreat from a spike.
Wages adjusted for inflation rose 1.6% in April, the Federal Statistics Statistics service said Friday. A reading for March was also revised up to 2.3% from flat, skewing economist estimates. The median estimate in a Bloomberg survey had put April wage growth at 0.2%.
Retail sales rose 1.2%, after climbing 1.6% in March.
Key Insights
What Bloomberg’s Economists Say...
``Slight disappointment in retail sales suggests the weakness in demand could linger. But the unexpected bump in wage growth is already laying the foundations for a rebound.''--Scott Johnson, Bloomberg Economics
Written By: Bloomberg
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