Russian cbank says consumer activity to restore in 2017

MOSCOW, Aug 25 (PRIME) -- A decrease of Russia’s consumer demand will continue slowing until the end of 2016, while consumer activity will restore in 2017, the central bank said in a research note on Thursday.

“Under the central bank’s estimates, a fall of consumer demand will continue slowing down until the end of 2016. In 2017, restoration of consumer activity is expected,” the regulator said.

“Amid economic uncertainty, the population continued adhering to a saving behavior model, which is indicated by a significant growth of deposits in July amid some reduction of interest rates,” the central bank said.

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