Statistics raises real disposable income figures for 2018–2019

MOSCOW, Dec 19 (PRIME) -- The Federal State Statistics Service has raised its estimates of Russians' real disputable income for 2018 and the first three quarters of 2019 due to higher growth of retail deposits and credit repayment, the service said in a statement on Thursday.

The income growth was upgraded to 1.4% from 1% in January–March 2018, to 1.1% from 0.2% in April–June of the year, and to 0.2% from zero in July–September. The contraction in October–December of the year was narrowed to 0.8% from 2%.

In 2019, dynamics were revised to a 2.2% contraction from a 2.5% decrease in January–March, to a 0.9% growth from a 0.1% contraction in April–June, and to a 3.3% increase from a 3% growth in July–September, the service said.

“The figures that had been published previously were adjusted basing on the data provided by the Bank of Russia, the Federal Tax Service, the Federal Service for State Registration, Cadastre and Cartography, and by other authorities. Intra-year quarterly dynamics in 2018 and 2019 were affected by adjusted banking statistics for 2017,” the service said.

Compared with the previous data, interest accrued on retail deposits were 14.9% higher, and spending of individuals on redemption of loans was 17.4% higher.

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