Third pandemic wave is impacting the real economy much less
The third pandemic wave is impacting the real economy much less compared to last year’s second wave. Household consumption keeps growing and the labor market is stable, although the demand for labor is weaker, says the Financial Policy Institute. The frequency of working from home did not increase significantly. eKasa data show that retail sales for the first 20 days of October were up by 9.4% annually and restaurant sales by 32% higher. Searching for the word "profesia" on the web is similar to 2019. Toll data show that the volume of freight transport is higher than in 2019. Electricity consumption is 5% higher compared to the 2016-19 average.
