Through October, retail sales are up 5.4% yoy

Through October, retail sales are up 5.4% yoy, the State State Statistics Service reports. The highest growth was observed in government-controlled Luhansk – up 27%; government-controlled Donetsk – up 12.9%; Zakarpattia – up 11.5%; and Poltava – up 11.4%. ICU view: Consumer demand will remain the key driver of economic growth for the rest of 2018 and 2019 thanks to rising real disposable income of households against the backdrop of a further increase of remittances, a 12% minimum wage hike since January 2019, and a tight labor market.