Jump in retail trade in November

140108_Kisker2_EN It is also the highest growth rate since the summer of 2006. As it seems, households react strongly to the accelerating real wage growth (above 6% in October), unlike in the second quarter.

The statistical base effect also helped boost the growth rate (the volume of retail trade was declining in November 2012), But since the seasonally adjusted volume in November 2013 was on the rise (compared to the previous months), the high growth rate cannot be attributed exclusively to this base effect. The November growth rate also raised the cumulative growth rate of January-November to 0.8% (as opposed to just 0.4% in January-October). This means that the overall retail trade may expand by (or even slightly above) 1% in 2013 as a whole.