Half of Russia Still in Crisis Prepares for Worse to Come
- Consumer demand is failing to improve even as economy recovers
- Record bout of declines in retail sales continued, poll shows
Once indispensable for the country’s prospects, consumption flat-lined well below zero throughout last year even as the broader economy defied gloom. From the ruble to industrial output and wages, Russia is on the up and up.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
The half of Russia’s economy that hasn’t got wind of a recovery is already hunkering down for the crisis to come.
Once indispensable for the country’s prospects, consumption flat-lined well below zero throughout last year even as the broader economy defied gloom. From the ruble to industrial output and wages, the outlook is brighter.