Page 34 - RusRPTOct19

4.5.3 Retail sector dynamics
The acceleration in Russia’s GDP growth from 0.5% y/y in 1Q19 was mostly the result of an improvement in real estate and wholesale and retail trade.
While the wholesale and retail trade sector posted a 0.6% y/y decline in 2Q19 (subtracting 0.1 pp from GDP growth), this was significantly better than the 3.0% y/y contraction in 1Q19.
Wholesale trade was primarily what dragged down this sector. The current figures were mostly in line with the monthly statistics published for these industries earlier. Wholesale trade fell by 3.1% y/y, while retail trade increased by 1.5% y/y in 2Q19.
34 RUSSIA Country Report October 2019 ww.intellinews.com