Source: Central Bank of the Russian Federation in English
28 December 2020
Output contraction was slower across most basic industries in November, while an expansion was even registered in the manufacturing sector (on an annualised basis). At the same time, domestic demand remained weak. Rising infections and tightened anti-epidemic restrictions combined to exacerbate annualised decline in consumer spending.
For the fourth quarter overall, slowdown in economic activity is fairly moderate. This comes as a result of the targeted nature of restrictive measures in place alongside the adaptation in prior months of businesses and consumers to pandemic conditions. According to Bank of Russia estimates, the economy will be back on a sustainable growth footing as early as spring 2021 as disease rates normalise.
These findings are given in Economy, the newly released information and analytical commentary.
This issue is the last one for 2020 and the concluding issue of the series of regular information and analytical commentaries on economic developments. Beginning in 2021, each of the commentaries on economic developments will focus on a particular subject, covering the most current issues of national economic development.
Preview photo: Serjio74 / Shutterstock / Fotodom