According to preliminary estimates, the volume of money income of the population in August was reduced up to R722.9 billion against R731.8 billion in July (the preliminary estimate of the July index was reduced by Goskomstat of the Russian Federation by R13.7 billion). On the average, money income per head made R5061, 1.2% reduction in relation to July. The real available money income of the population in August rose only in relation to July by 0,3% and its increase in July was significantly corrected downward ― from the former level in 3.6% to 1.5%. As a result, its current dynamics became of some different character as was seen a month earlier. Now it shows a sharp slowdown of the positive tendency since the 2nd quarter 2003. If in the 1 st quarter of the current year the monthly growth rates under the tendency stayed within the limits of 2.5% in January and 0.6% in March, then in May-August they did not exceed 0.2% per month. Thus, a high degree of advancing over the last year's level which was marked in January-August (13.4%) is mainly explained by the intensive growth at the beginning of the year. We shall remind that then, because of a special way of calculation of this index, there existed conditions for its overestimation, owing to taking the greatly increased returns from currency sales into account as incomes. Up to the end of 2003 in conditions of a weak growth under the tendency and moreover of its expected termination the degree of advancing over the last year's level will be reducing and the annual growth rate will make about 12%.
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