was the decline of real wages among Russians in April 2015.
This is the most negative value for the entire post-crisis period (2008-2009).
Real disposable incomes have been falling for six months. As a result, Russian households have switched to a pattern of behaviour focused on savings, purchasing manufactured goods with a high degree of caution and greater selectivity. The falling purchasing power of end-users is creating serious problems for companies when it comes to demand for their products.
These data are presented in a new Monitoring the Business Climate in Industrial Organizations study that was conducted in May 2015 by the Centre for Business Tendency Studies at the HSE Institute for Statistical Studies and Economics of Knowledge (ISSEK).
was the level to which the business confidence index in the service sector fell in the first quarter of 2015. This is a record decline. For the year, the value of the index has fallen by 10 percentage points.
of entrepreneurs in the retail sector reported that they had reduced headcount in their organizations in the fourth quarter of 2014. Compared with the beginning of the year, the trend with respect to headcount reductions has doubled.