Personal income. On a preliminary estimation of Goskomstat of the Russian Federation money income in June 2003 reached R710.5 billion against R678.2 billion in May. The average per capita money income in June made R4974. On the whole the money income of the population in the first half-year 2003 reached almost R4 trillion, almost R1 trillion more than in the 1st half-year 2002. The average per capita money income of the population grew accordingly by 31%. The real money income of the population in June grew by 3.2% versus May, the lowest increase for this month for the last four years. However its change in April and May was corrected upward by Goskomstat: the April increase was changed from 4.1 % to 5.2% and the decline in May from 6.2% to 5.5%. These new data did not change the former dynamics of the real income. In April and May it was still stable but in June a noticeable fall of the level, cleared of the influence of the seasonal factor (by 4%), resulted in first signs of a negative break of the tendency. Nevertheless, the degree of an excess over the last year's level by progressive total is still rather high due to a strong rise under the tendency at the beginning of 2003. Upon the results of the 1st half of the current year it made 14.6%. However in the long term perspective this degree of the excess will be most likely decreasing up to the end of the year, even on the assumption of a stable level of the real income in the 2nd half-year. This assumption seems to be at present a most probable development of events, as only one negative change, like it was in June, is not enough to expect a continuation of the recession under the tendency. A stabilization of the level of the real money income in the 2nd half-year will result in an annual increase in 11-12%.
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