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Russian retail sales fell off a cliff last month

A man looks at meat on offer on a market stall in Moscow.
Reuters/Mikhail Voskresensky
There’s a lot less of this going on.
By Melvin Backman
Published Last updated This article is more than 2 years old.

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.

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