Private consumption may gradually drop in next months

The September dynamics of retail sales in nominal terms (in current prices) and real (in constant prices) fell below the market consensus. Analysts indicate that private consumption will remain the main driver of economic growth this year. However, they expect its pace to gradually weaken in the coming months.

Analysts indicate that consumer demand is likely to slow down slowly in the following months of the year amid persisting stagnation in wage growth and declining consumer confidence in recent months.