Retail sales in Ukraine

Retail sales dropped by 17% in January-March, 2009 relative to January-March, 2008. Sales in March have increased by 9% relative to February.

Actually, it is quite surprising to me that decline in retail is not as deep as in other areas. Of course, there is a consumption smoothing but given hryvna devaluation,  decline in imports, and overall collapse of production it is a good sign that the economy might start to recover.