Support The Moscow Times!

Capital Investment Slows

Capital investment advanced at the slowest pace in 10 months in March and retail sales missed forecasts, adding to signs that the economy is weakening after data showed industry growth had fallen to a 2 1/2-year low.

Investment rose 4.9 percent from a year earlier after a 15.1 percent increase in February, the federal statistics service said Wednesday. Retail sales grew 7.3 percent from a year earlier in March, down from 7.7 percent the previous month, the service said.

Wages adjusted for inflation rose 12.6 percent after a 13.3 percent increase the previous month. Real disposable incomes gained 2.8 percent, missing a 4.4 percent median estimate. Unemployment, which economists predicted would fall to 6.4 percent, remained at 6.5 percent for a second month.

"We forecast private consumption to remain strong through 2012 as a whole and play the role of locomotive of expansion in gross domestic product," said Julia Tseplyayeva, head of research at BNP Paribas in Moscow.

(Bloomberg)

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysiss and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more