January's economic activity disappoints

Макроэкономика 17.02.2015 The statistics office's monthly economic sector activity reports for agriculture, transportation and retail trade were disappointing. While industrial production, construction and services sector reports are expected later this week, January so far has shown an extended contraction from the previous quarter. Retail trade was down 23.6% YoY in real terms and 3.3% MoM in seasonally adjusted terms. Transportation declined 24% and 19% YoY for cargo and passenger turnover, respectively, however it was up to December in seasonally adjusted terms 13.5% and 1.0% MoM, respectively. Agriculture fell 2% YoY and 5% MoM in seasonally adjusted terms to December.