Index of Economic Capacity of Population – September 2019


The value of Economic Capacity of Population Index (Index) (as of the end of August 2019) was 100.9. It has been kept above 100 for 5 months in a row.

This result was expected, taking into account the following points:

– consistent increase in average nominal wages (7% increase in June-July, including seasonal holiday allowances and payments) with reduction in the official inflation rate and even deflation (1.1% decrease in consumer prices in June-July), and, therefore, increase in average real wages (for 8.3% over the same two months);
– noticeable decrease in the unemployment rate (reduction of the load factor for vacant posts from 33.3 in April 2019 to 28.6 in July 2019), which is one of the best indicators in recent years;
– significant pre-election payments (official and unofficial) to the population, which allowed to increase both consumer spending and replenish savings through the purchase of cash currency (which usually serves as reliable savings).

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