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SberIndex showed a record reduction in spending by residents of Russia on goods and services
04.11.2020 3775

SberIndex showed a record reduction in spending by residents of Russia on goods and services

For the week from October 26 to November 1, the drop in consumer spending on goods and services was a record one since the end of May 2020. Russian spending in the category of non-food products decreased by 5% year-on-year, in the service sector by 32%, economists from Sberbank note.

At the same time, the costs of food and medicine are growing. Over the past week, spending by Russian citizens on food products increased by 3,1%, while spending on medicines jumped by 34,3%.

The article Vesti.ru, which provides statistics from Sberbank, also notes that during the reporting week, the number of operating retail outlets in the category of non-food products decreased by 0,5% in Russia. At the end of October 2020, the demand for goods and services fell by 2,7%.

For the week from October 26 to November 1, the drop in consumer spending on goods and services was a record one since the end of May 2020. Russians' spending in the category of non-food products decreased by 5% ...
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