Russian Economy Update

For the first time since the collapse of the Soviet Union, Russia has achieved an annual rate of inflation of less than 10%, this is considered to be the silver lining of the economic crisis for the Russian economy. The rate of unemployment has stabilised at 8% while retail sales have increased by 2.9% during the month of March, indicating a rise in consuming confidence. The average monthly salary rose by 3.4% in March, while disposable income was up by 4.2% on the previous year. The Russian economy is estimated to have grown by 7.5% during the first quarter of 2010 and predicted to be 8% for the 2nd quarter of year.

Source: http://www.tmiconsultancy.com