Rosstat has published its October statistics pack on economic conditions.
Unemployment increased to 5.5%, from 5.3% in September. More importantly, the seasonally adjusted unemployment rate ticked up further (now at 5.6%).
Real retail sales growth ticked up 0.5pp to 3.5% YoY, normalising after the sharp drop last month.
Investment in fixed capital kept contracting and shrank 1.9% YoY, still disregarding the favourable base effect. Underlying trend growth worsened and printed a 4.4% decline. This surprised us and consensus to the downside.
Construction declined 3.6% YoY, after the 2.9% YoY drop a month ago.
Real wage growth slowed to 4.1% YoY, from the downwardly revised figure in September (to 6.3% YoY).
Agriculture output growth spiked to 26.3% YoY, from a decline of 1.4% YoY a month ago.