Russia Food & Drink Report Q1 2014 - New Market Report
The decision by Russian monetary authorities to rein in consumer credit growth will translate into weaker-than-anticipated private expenditure beyond 2013. We have already cautioned that consumer lending growth of 39.8% - the average for the 12-month period ending in May 2013 - was unsustainable. The decline will weigh on household spending into 2014, with the concomitant effects on food and drink spending.
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