Key economic sector results for May

Макроэкономика 17.06.2015 The recently released monthly statistical reports for May for agriculture, transportation and retail trade were as follows: 1. Agriculture extended its downward trend, as measured by its index. 2. Retail trade is stabilizing. Adjusted for inflation, the data indicate a recovery in May, but seasonal adjusted, in increased only mildly. 3. Transportation appeared to stabilize. For cargo and passenger transport activity, without seasonal adjustment, both segments rose 8.9% and 3.0%, respectively, from the previous month. However, in seasonally adjusted terms, both sectors slid 3.7% and 5.4%, respectively. The segment trends diverged. While cargo transport rose 0.7%, passenger turnover declined 1.2% MoM. With construction and industrial statistics to be released later this week, we expect to see a fuller view of the whole economy and the extent of its stabilization and possible recovery.