Consumer spending down in Russia

ChrisD(RJ) chrisd at russiajournal.com
Tue Feb 4 05:55:33 PST 2003


Consumer spending down in Russia

MOSCOW. Feb 3 (Interfax) - Spending on consumer goods and retail services fell in Russia last year from 74.4% to 72.2% of total monetary incomes.

Spending on foreign currency dipped from 5.7% to 5.6%, the State Statistics Committee said.

In the fourth quarter, consumer spending came to 71.1% of all incomes, compared with 73.2% a year earlier.

Monetary incomes totaled 6.696 trillion rubles, compared with 5.294 trillion rubles in 2001. Expenditures came to 6.577 trillion rubles, compared with 5.1896 trillion rubles.

Spending on goods fell from 59.5% to 57.7% of total spending in 2002, while spending on services grew from 14.9% to 15.1%. This was because service charges, particularly housing and utilities, transport and communications, grew faster than goods prices.

Taxes and other dues consumed 9.3% of all spending, compared with 8.9% in 2001. Investments in bank savings, securities, loan payments and the purchase of real estate were up from 9% to 10.5% of the total. Russians had 1.8% left over in cash after expenditures and investments, compared with 2% in 2001.



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