Page 24 - RusRPTDec20

and real wages for August (+0.1% y/y) not only fell short of the Bloomberg consensus estimates (​2.1% y/y and +1.4% y/y respectively), but were below the lower bound of the respective confidence intervals made of standard deviations around the consensus' mean estimates,” ​BCS Global Markets​ said in a note earlier this month.
Indeed, as ​bne IntelliNews​ reported​ ​e-commerce is booming​ in Russia and the leading retailers have barely been affected​ by the coronacrisis.
2.13 ​Russian business and consumer confidence
Russia’s business confidence index decreased by 4 percentage points in the producing ​and by 5.7 percentage points in the processing industries in November, the Federal State Statistics Service said on Friday.
“The business confidence index, which reflects generalized entrepreneurs’ behaviour, amounted to minus 4.0% in the mineral production sector and to minus 5.7% in the processing industries in November 2020,” the statement said.
The economic situation in a company was deemed positive by 10% of managers and satisfactory by 73% of managers in the production of raw materials, while the figures for the processing industry stood at 9% and 73%, respectively.
24 ​RUSSIA Country Report​ December 2020 www.intellinews.com