The Organization for Economic Cooperation and Development (OECD) again lowered the forecast for global economic growth for 2019, noting the negative effects of trade tensions.
The main driver of growth in the market was chocolate sold by promotions and cheap cookies. Last year, on average, every Russian consumed 25.2 kg of confectionery. Sales increased over the year by 3% in physical terms, the market volume was 3.7 million tons.
The European Commission, in its spring economic outlook, somewhat reduced its outlook for economic growth rates worldwide, including Russia. According to the forecast, the growth rate of the Russian economy in 2019 will be 1.5%.
The number of early bookings for the summer of 2019 has increased by 48% compared to the similar period last year.
Foreign investors are not leaving the Russian market; on the contrary, their share in the first quarter was 50%, and 48% in the derivatives market.
The World Trade Organization sharply lowered its forecast for global trade growth in 2019. Pessimism is associated primarily with the uncertainty in the trade negotiations between China and the United States, as well as with the slowdown in global economic growth.
According to the results of 2018, the state’s share in the economy remained at last year’s level and amounted to over 60-70 percent “according to many expert estimates” reported by RBC with reference to the Federal Antimonopoly Service (FAS) report on the state of competition in Russia.
Instead of vacation, abroad Russians choose a vacation in the countryside – cottages. Russians are in no hurry to spend the May holidays abroad and buy building materials for their country houses.
About 80% of consumers choose products for a healthy diet, but less than half believe that their needs can be satisfied with the current offer.
Since the end of March, Rosstat has recorded a zero increase in consumer prices, and last week the annual inflation for the first time in a long time fell to 5.2%.
In 2018, German companies invested more than 3b euro in the Russian economy, according to the Russian-German Chamber of Commerce.
At the end of 2018, the number of tourist trips of Russians abroad increased by 7 % compared with 2017. It is reported by “Kommersant, citing a study of the company Euromonitor International. In total, last year foreign trips from Russia increased by 6%. The main directions were Turkey, Germany, Thailand, Italy and Spain.
Weekly inflation in Russia in the period from March 19 to 25 was 0.1%, remaining at this level for the ninth week in a row, according to Rosstat data published today.
The “Coffee with milk” index in February went up again after the January recession and reached 959 pp, which is 1.9% more than the previous figure. The annual growth of the index in the whole country was 4.5%. In the capital, the index of simple pleasures also showed an increase of 1.9% to a level of 1101 pp.
Despite the fact that many independent tourists traditionally come to Finland from Russia, they see a strategic need to promote package tours in the opinion of the representative of VisitFinland, ATOR reports.
According to representatives of Finnish tourism, this Nordic country as a tourist destination is not well known outside of St. Petersburg. Finland is often associated with year-round cold and Santa, and reindeer or husky riding is the only possible entertainment.
Prices for products must grow, otherwise manufacturers will not be able to receive adequate profits and invest in the development of production, said Andrei Tsyganov – deputy head of the Federal Antimonopoly Service (FAS) – during the interview with RIA Novosti.
The food retailer is going to focus more on wholesale sales to professional customers in b2b. According to Kommersant, it will work in three new formats, including the premium segment. The company’s representatives denied this.
German retailer Metro AG, managing a network of small wholesale hypermarkets Metro Cash & Carry, plans to change the approach to its business in Russia and make it more affordable for wholesale. The press service of the company told in a conversation with RBC.
According to the Central Bank, the impact of the increase in the VAT rate in Russia on the prices of goods and services remains uncertain. Annual inflation in Russia will reach its maximum due to the base effect in the spring months of 2019, then from the second half of the year it will decrease to 5-5.5% by the end of the year, after which it will return to the target value near 4% at the beginning of 2020. This is stated in the information and analytical material of the Bank of Russia about the dynamics of consumer prices.
The increase in VAT will not affect the demand for consumer loans among Russians. Since January 1, 2019 the VAT rate increased from 18% to 20% in Russia.
Washington’s anti-Russia policy proves to be ineffective, according to German companies doing business in Russia. But they say they are facing increased difficulties due to the sanctions regime.
