Real retail sales through July are up 6%, compared to the first seven months of last year. Boosting sales are a 13% percent y-o-y increase in real salaries in June and an estimated 25% percent increase in wage remittances from overseas workers. Although retail sales in July were up 6.6% y-o-y, GfK’s Ukraine’s Consumer Confidence Index fell to 61.8 in July, a 3.8 point drop from June. Dragon Capital writes: “Private consumption, along with investment in fixed capital, will remain the key driver of GDP growth this and next year, boosting real GDP growth to 3.5% y-o-y in 2018.”
Real retail sales through July are up 6%,
