Business

The Turnover of Trade and Catering in the Vladimir Region Dropped Sharply in May

In May 2022 the volume of retail trade in the Vladimir region amounted to 25 billion rubles, which is 11.6% lower than the same indicator of the previous year, according to Vladimirstat data.

The drop can be attributed to lower purchasing power, as well as to the consumption of goods bought during the rush in late February and early March. The decline in retail sales in the five months of 2022 amounted to 4.8%. During the pandemic, this industry was one of the least affected and did not show a negative trend.

An even bigger change was the 33% decline in May catering turnover compared to May 2021. The decline on a scale of the first five months of 2022 (compared to five months of 2021) was 25.9%. In the dynamics of visits to catering establishments there was a sharp drop at the end of February, a slight return to normal values in April and then a smooth, but dynamic decline in profits in the sector.

Vladimirstat reports that the consumer price index in May 2022 compared to May 2021 was 19.4%. In other words, the average price of food and consumer goods went up by that amount for the year. Salaries of Vladimir residents for the year (according to April data) have changed only by 15.3%. At the same time the average change of well-being in the direction of deterioration is usually also characterized by greater differentiation: poor citizens are getting poorer than the rich.

The index of industrial production in May was 2.9%, much lower than in the previous months of 2022. For the first five months, the index is estimated at 7.2%, while last year it was 9.9%.

Manufacturing industries (which includes the food industry) showed a modest growth, while utilities companies lost out. Rather optimistic indicators remain in the field of power supply (+25.2%), which indicates the workload of some enterprises in the region.

As follows from Vladimirstat data, in May 2022 production of other vehicles and equipment, production of machinery and equipment, “not included in other groupings” feel good. Earlier, Alexander Avdeev, the acting governor, admitted in an interview that the regional “defense industry” received orders from the state and is feeling well.

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