date:Apr 29, 2014
al disposable incomes fell 6.8% in March from a year earlier after a revised 0.6% increase in February, the Federal Statistics Service in Moscow said earlier this month. Gross domestic product may expand less than 0.5% this year or not grow at all, Finance Minister Anton Siluanov said on April 15. GDP grew 1.3% in 2013, the slowest pace in four years.
Higher costs on lending will curb retailers expansion plans, said HSBCs Morozov.
Economic Engine
The retail sector has been an engine of Russia