Russia 9M 20 macro stats: Sliding deeper instead of rebounding
- The weakness in retail and production patterns, which disappointed in August, intensified in September
- Retail trade shrunk 3.0% y/y; manufacturing output started to contract again in September
- Monetary or fiscal support unlikely to come in 4Q20
The contents of this document have been prepared by Joint Stock Company “Alfa-Bank” ("Alfa Bank") as Investment Research within the meaning of Article 36 of Commission Delegated Regulation (EU) 2017/5...