The Russian economy reached pre-pandemic level in the second quarter of this year but there can be a pause in consumer demand recovery in coming months, the Central Bank said on Wednesday, TASS reports.
"The Russian economy continued growth in May - June, particularly owing to quick growth of lending volumes. The economy reached the pre-pandemic level in the second quarter as a result. Flash June estimates evidence a possible pause in consumer demand recovery in coming month in the environment of growing uncertainty with the epidemiological situation," the Bank of Russia said.
Flash indicators for June highlight growth stability or its small slowdown against April - May rates, the regulator noted. "Toughening of lockdown measures caused by epidemic situation worsening occurred closer to end of month, and is fairly local so far, largely affecting the consumer services sector," it added.
