The Real Sector of the Economy: Factors and Trends in March 2015

Abstract

According to the preliminary data of the Ministry of Economic Development of the Russian Federation, in Q1 2015 GDP amounted to 97.8% against the index of Q1 2014. A simultaneous shrinkage of consumer demand and investments in capital assets had a negative effect on the domestic market in 2015. In Q1 2015, the retail trade index and the index of investments in capital assets amounted to 93.3% and 94.0%, respectively, as compared to the same period of the previous year. The situation in the economy is complicated by a 8.3% drop in real wages and salaries and a 1.4% growth in the rate of unemployment as compared to Q1 2014.