Russian retail sales fell off a cliff last month

There’s a lot less of this going on.
There’s a lot less of this going on.
Image: Reuters/Mikhail Voskresensky
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Image for article titled Russian retail sales fell off a cliff last month

Between Russia’s disappearing, reappearing president and the country’s ongoing war with Ukraine, it might be easy to forget about the state of the Russian economy. It’s in rough shape. The unemployment rate is climbing, and retail sales, after their brief spike last year, are plummeting at their fastest rate since the 2008 global financial crisis.

Image for article titled Russian retail sales fell off a cliff last month