Ukraine retail sales speed up to 8% growth in 10M20

Ukrainian retail sales accelerated to 7.6% yoy growth
in real terms in 10M20 from 6.7% yoy growth in 9M20, Ukraine’s State Statistics
Service reported on Oct. 20. In October, retail sales advanced 15.2% yoy (vs.
11.6% yoy growth in September), or 4.3% m/m.

Regionally, the highest retail growth in 10M20
occurred in the Kyiv (17.2% yoy), Zaporizhia (14.9% yoy) and Chernihiv (13.5%
yoy) regions. The top losers remained the Zakarpattia (-5.4% yoy) and the
Chernivtsi (-0.2% yoy) regions.

Evgeniya Akhtyrko: Retail sales in Ukraine are surging, backed by fast growth of wages. The strong household  consumption is helping
the economy to offset the fall in investments. We expect Ukraine’s retail sales
to increase 9% yoy 2020 (vs. 10.3% yoy in 2019).