JRL NEWSWATCH: “Russia’s consumer orientated business takes the brunt of the coronacrisis blow, basic sectors down 10% in April” – bne Intellinews

“Russia’s basic sector output was down 9.9% year on year in April … [with] the effects of the coronacrisis …. Over the first four months … Russia’s basic sector output fell 0.9% y/y, versus 2.3% growth in 1Q20. … [Only] [a]griculture … show[ed] growth. All … other subsectors contracted in April. Retail, services, manufacturing and wholesale suffered the most …. [T]he lockdown hit … businesses … rely[ing] on commerce with people the [hardest]. …[F]ood services, … restaurants, cafes and bars, saw sales plunge 51.5% y/y in April, despite … delivery and takeaways. … contracting … 11.1% y/y [over the first four months].”

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