Russia’s GDP in June 2020 decreased by 6.4% in annual terms, according to the Ministry of economic development in the report “the Picture business”.
in the midst of quarantine measures in April, the Russian economy contracted by 12 percent in annual terms. The may evaluation, the Ministry revised from minus 10.9 percent to minus 10.7 per cent. Total for the second quarter, Russia’s GDP declined by 9.6 percent in annual terms, after rising 1.6 percent in the first quarter.
increased consumer spending noted in the manufacturing industries oriented to consumer demand, light industry, furniture manufacturing.
in addition, the increase in the output of the first necessity, which was not stopped in previous months. However, in the services sector due to the persisting constraints in some regions the recovery is slower.
Earlier, the Federal state statistics service reported that real disposable income (money remaining after obligatory payments adjusted for inflation) fell by eight percent in three months. This was a record fall since at least the beginning of 2013. In General, for six months, disposable income fell by almost four percent. The Ministry of economic development predicted the drop in the second quarter to 6 percent.
