Retail Trade Continues Boom

According to data released yesterday by the State Statistics Committee, retail trade volumes were up 25% yoy in Jan-Sept 2006. Over the same period last year retail trade growth was at 23%. Alexander Viktorov:  Since the start of the year retail trade has maintained its record high growth rates, however, with the slow down in the growth of real incomes (from 23% in January to 19.5% over 6M), and the higher comparison base from the end of last year, the pace of retail trade is starting to slow slightly (down from 25.6% in August). However, the rapid expansion of retail lending will continue to buoy retail numbers.