Through September, retail sales are up by 5.5% in real terms, year over year
Through September, retail sales are up by 5.5% in real terms, year over year, reports the State Statistics Service. This time last year, retail sales were up 8.8%. This year’s growth champions are: Luhansk, up 27.9%; Donetsk up 13.7% and Poltava up 11.1%. As usual, volume champions were: Kyiv — up 3%; Dnipro – up 6.6%; and Kharkiv – up 1%. Concorde Capital’s Evgeniya Akhtyrko writes: “We anticipate retail trade to accelerate through the year end, supporting economic growth. We expect real retail sales to grow 7-8% yoy in 2018.” Dragon Capital write retail sales are supported by 16% year over year growth of real salaries in August, and by a 26% year over year growth in remittances, to almost $1 billion a month this year.