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Russians are spending big on travel and cognac. But the boom is just one 'last growth spurt,' says an analyst.
Insider - MSN ^ | 8 12 | htan@insider.com

Posted on 08/12/2024 5:06:12 AM PDT by dennisw

Russia's consumer sentiment hit a high in June as its wartime economy boosted spending. The sentiment index has risen since April 2022, despite the Ukraine invasion. Russia's economy grew 4% in the second quarter of the year. Economists expect this to slow. Russian consumers are spending large and feeling big about their finances.

In June, Russia's consumer sentiment hit a high not seen since the 2000s, according to Levada Center, Russia's last major independent pollster.

Russian consumers are on a spending spree Russia's GDP grew 4% in the second quarter of this year from a year ago. It's a slowdown from the 5.4% growth logged in the first quarter, but it's still robust growth. In contrast, the US economy grew 2.8% in the second quarter of this year.

Russia's booming economy has boosted consumer spending, in particular on culture, hotels, transportation services, and personal services, according to a Financial Times analysis of official data last month.

According to the FT, consumption per capita in Russia increased by more than 20% from 2021 to 2023. In particular, spending on travel surged more than 90% thanks to a boost from domestic tourism.

Last year, Russia's imports of cognac and sparkling wine surged 18% and 80% from 2019, respectively, according to an estimate from the Economist media outlet.

Broadly, "consumption is booming due to a combination of massive budget spending and labor force shortages leading to strong wage pressures," Bartosz Sawicki, a market analyst at the fintech Conotoxia, wrote in a note last month.

(Excerpt) Read more at msn.com ...


TOPICS: Business/Economy; Conspiracy
KEYWORDS: huilengtan
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1 posted on 08/12/2024 5:06:12 AM PDT by dennisw
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To: dennisw

Just as long as you don’t die or get maimed in Ukraine......Its Beluga and Boom Time there.


2 posted on 08/12/2024 5:08:37 AM PDT by dennisw
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To: dennisw

This is it, this time Russia is really done. /s


3 posted on 08/12/2024 5:11:10 AM PDT by JoSixChip (P.S. There’s a fed in that thread you’re in right now.)
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To: Allegra; AndyJackson; ANKE69; bimboeruption; Candor7; Carriage Hill; C210N; Cold_Red_Steel; ...

ZEEPER FOLLIES PINGLIST!

(((PING!)))

... to be added to the best Zeeper-provided entertainment since Paul Shanklin parodies, ping me bro.

4 posted on 08/12/2024 5:12:30 AM PDT by aMorePerfectUnion (🦅 MAGADONIAN ⚔️ )
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To: dennisw

:...massive budget spending...:

At the same time, MSM ignores the $8 trillion dollars that Puppet Biden’s federal reserve has printed out of thin air, to juice the USA economy. At least Russia’s currency is being used for it’s own people, unlike in the US where most of the money is going to the filthy illegal aliens. /spit


5 posted on 08/12/2024 5:12:52 AM PDT by Flavious_Maximus (Tony Fauci will be put on death row and die of COVID!)
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To: dennisw

If I knew the entire Globohomo world was trying to destroy my country and groom my children, I might feel the inclination to drink. Wait…it’s already happened here!?! 😔


6 posted on 08/12/2024 5:25:54 AM PDT by Jan_Sobieski (Sanctification)
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To: aMorePerfectUnion
Russia evacuates 11,000 people from Belgorod border district, TASS says

Yep, we proponents of a free Ukraine / critics of Putin's invasion are totally exaggerating this!

Regards,

7 posted on 08/12/2024 5:31:23 AM PDT by alexander_busek (Extraordinary claims require extraordinary evidence.)
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To: alexander_busek

A “free” Ukraine. You mean the Ukraine that has no elected President, but rather a dictator? That Ukraine?


8 posted on 08/12/2024 5:55:32 AM PDT by Codeflier (Don't worry....be happy)
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To: dennisw

THE RUSHANS ARE LEWZING MEME !

SEND MONEY INTO THE BOTTOMLESS BIDEN GRAFT AND CORRUPTION PIT !


9 posted on 08/12/2024 6:00:05 AM PDT by Candor7 (Ask not for whom the Trump Trolls,He trolls for thee!),<img src="" width=500</img><a href="">tag</a>)
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10 posted on 08/12/2024 6:22:58 AM PDT by Who is John Galt? ("...mit Pulver und Blei, Die Gedanken sind frei!")
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To: dennisw

🤡


11 posted on 08/12/2024 6:56:11 AM PDT by JonPreston ( ✌ ☮️ )
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To: alexander_busek

12 posted on 08/12/2024 7:49:21 AM PDT by Allegra
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To: dennisw

I don’t think there are a lot of attractive tourist options for Russians. They have domestic, China , Iran, NK and not much else.


13 posted on 08/12/2024 7:56:14 AM PDT by grumpygresh (Civil disobedience by non-compliance; jury and state nullification.)
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To: All

I recently had occasion to test the alcohol consumption stereotype.

Per capital alcohol consumption per year in liters is the measurement.

#1 in the world, Romania. #5 is Germany. #6 Uganda (!!, surprised they can afford it).

These are all above the 10 liters per year level.

UK 10.8. Belarus 10.9. France 11.3.

US 9.6. Canada 9.9.

And

Russia 10.4. 25th place. Most of Europe consumes more.

The whole vodka thing is just not supported by the facts.


14 posted on 08/12/2024 8:05:53 AM PDT by Owen
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To: Owen

“#6 Uganda (!!, surprised they can afford it).”

Jungle juice, of course.


15 posted on 08/12/2024 8:21:21 AM PDT by rxh4n1 ( )
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To: Owen

The entire consumption list, from first to last, would be an interesting and useful document for discussion.


16 posted on 08/12/2024 8:57:54 AM PDT by Navy Patriot (Celebrate Decivilization)
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To: dennisw
Given all the problems in this country, including the potential for communists to be installed in the White House, who the hell cares about what is happening in Russia?

It's NOT NORMAL for anyone but an operative with an agenda to care more about Russia and a neo-Nazi hellhole like Ukraine rather than the fight to preserve America as it was founded.

17 posted on 08/12/2024 9:26:44 AM PDT by Kazan
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To: Owen

“The rate of alcoholism varies significantly among nations. While it might stand to reason that rates of alcoholism would correlate closely to overall alcohol consumption per country or possibly with drinking age by country, these correlations are not always present.”

Top 10 Countries with the Highest Rates of Alcohol Use Disorder/Alcoholism (males):

Russia 36.9%
Hungary 36.9%
Belarus 33.9%
Latvia 28.8%
Slovenia 23.5%
Slovakia 22.8%
Poland 22.7%
Estonia 22.2%
South Korea 21.2%
Lithuania 19.9%
https://worldpopulationreview.com/country-rankings/alcoholism-by-country


18 posted on 08/12/2024 9:42:13 AM PDT by ansel12 ((NATO warrior under Reagan, and RA under Nixon, bemoaning the pro-Russians from Vietnam to Ukraine.))
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To: dennisw

One last growth spurt? Huh? When did their 12 time zones filled with everything the West needs suddenly disappear? Oil, gas, energy ,rare earths, grains, metals, coal, uranium, gold, etc, etc….


19 posted on 08/12/2024 10:08:05 AM PDT by delta7
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To: Kazan

Rejoice! Putin’s war means more Beluga caviar and top shelf Stolichnaya for you. The Russian economy is going great guns! Even as 1000 dragooned Russian troops surrender to Ukraine in Kursk. Rather than die for Vlad Putin.
Rat Putin was the only Russian that wanted this war.


20 posted on 08/12/2024 10:16:44 AM PDT by dennisw
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