Regional Economy report: growth in consumption weakens
11 December 2024
News
Demand for food products and catering services remained strong amid rising household incomes. In the non-food retail, growth in demand was less pronounced. Household propensity to save was up, with more people assessing the current period as unsuitable for large purchases.
Domestic demand remained generally high. This boosted growth in the output of goods and services by Russian businesses. Wages continued to go up due to persistent labour shortages.
More details are available in the December issue of the Regional Economy: Commentaries by Bank of Russia Main Branches report. The special topic of this issue is household income.
Preview photo: LeManna / Shutterstock / Fotodom