RU Unemployment Rate

Wall Street is starting to get nervous as we near the X-date. A US default seemed unimaginable a couple of weeks ago and despite a lot of positive comments from both sides, negotiations will go down to the wire and that means the risk that it falls apart is growing. Treasury Secretary Yellen will soon provide an update on the X-date and that could show talks might have an extra week from the current June 1st deadline to get a deal done. Economic data for the week will focus on the labor market, consumer confidence, and ISM ...

The unemployment rate in Russia in October 2022 remained at the level of September and amounted to 3.9%, according to the Russian State Statistics Service (Rosstat). "The unemployment rate of the population aged 15 years and over in October 2022 amounted to 3.9% (without excluding the seasonal factor)," the statement said. According to statistics, the total number of unemployed in Russia in October amounted to 2.9 mln people. The Russian State Statistics Service reported earlier that inflation in Russia on November 22-28, 2022, ...

Further turbulence ahead? Financial markets enjoyed a little reprieve last week following a raft of central bank announcements the week before. Next week sees the focus remain on policymakers, with many set to appear at the ECB Forum on Central Banking in Portugal. Recessions have gone from being a potential consequence of high inflation and rapid monetary tightening to an increasingly likely scenario. Central banks are pushing back less and less against a period of negative growth, with Fed Chair Powell last week acknowledging it is ...

We are cautiously optimistic on the released data. The 7.2% YoY growth reported for April beats our 5.2% expectations and 6.5% Refinitiv consensus. Based on the seasonally adjusted monthly data, the Russian industrial production volume is now 0.6% higher than in February 2020, the last pre-Covid month for the country. On the cautious side, most of the April improvement compared to 1Q21's -0.9% YoY comes from the low base effect of April-May 2020, when the country was on strict lockdown. Also, most of the outperformance vs. consensus ...