Real-time retail consumption tracker for June 8 – 14, 2020
Between June 8 and 14, consumer spending added 3.9% w-o-w. The fall decelerated to ‑8% y-o-y compared to 2019. The consumer activity index on Sberbank’s analytical website SberIndex.ru, which characterizes the variety of categories of products and services in the consumer cart, increased from 68.1 to 73.0 points over the same period. Thus, consumption in Russia is nearing 2019, albeit only reaching the figures seen during inactive weekdays so far.
Recovery is still mainly happening in the category of non-food items, which for the first time added 1.9% y-o-y since April when stricter measures to combat the coronavirus were introduced.
Judging by the structure of spending evolution, demand is rebounding amid the easing of restrictions in June. In the service sector, a substantial part ofthe easing is still ahead and the decline remains at 35.3% y-o-y.