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  Tuesday, February 7, 2023
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The Federal Statistics Service on Friday reported positive macroeconomic data for September
The Federal Statistics Service on Friday reported positive macroeconomic data for September, signaling the slowing of the economy evidenced in June may have come to an end. * Industrial production numbers for September released earlier this month (5.2% growth year-on-year) also showed a slight increase. * Fixed investments rose 10.8% year-on-year in September and 9.9% in 9M05. * Real retail sales grew 12.8% year-on-year in September and 11.7% in 9M05. * Real disposable income rose 15.4% on the year in September and 9.3% in 9M05. * Average monthly per capita was $285.7 in September. * The nominal average monthly wage in September stood at $309.7, up 25.5% on September 2004. * The real wage was up 11.7% in September and 8.7% in 9M05. * Producer price inflation came in at 2.8% in September, strongly impacted by further rises in domestic fuel prices. * Twelve-month trailing producer price inflation still remains higher than consumer price inflation at 18.6% and 12.2% respectively. * Producer price inflation amounted to 15.1% in 9MO5, while consumer price inflation reached 8.6%. * Unemployment rate edged up from 6.4% in August to 6.8% in September. These figures are underpinned by strong world commodity prices, with a positive impact on exports, consumption and investments. Furthermore, the ruble has weakened this year on the back of a strengthening dollar, and this has also benefited Russian producers.
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