Figure of the day: 13.2%

was the decline of real wages among Russians in April 2015. These data are presented in a new Monitoring the Business Climate in Industrial Organizations study that was conducted in May 2015 by the Centre for Business Tendency Studies at the HSE Institute for Statistical Studies and Economics of Knowledge (ISSEK).

This is the most negative value for the entire post-crisis period (2008–2009).Real disposable incomes have been falling for six months. As a result, Russian households have switched to a pattern of behaviour focused on savings, purchasing manufactured goods with a high degree of caution and greater selectivity. The falling purchasing power of end-users is creating serious problems for companies when it comes to demand for their products.

Source: HSE website