From BOFIT right now (as translated by Google):
In line with the Russian Statistical Institute’s preliminary estimate, Russia’s GDP grew by 4% year-on-year in April-June. Progress has clearly slowed down in current months. In June, (seasonally adjusted) manufacturing declined in business and building. In June, the long-continued progress additionally slowed down in consumption-driven sectors. The sharp enhance within the common actual month-to-month wage has slowed down and the extent of the typical wage has remained virtually unchanged in current months.
Though the expansion in client demand has slowed down, home manufacturing and imports have developed much more poorly. The escalation of provide issues has additional accelerated inflation. In July, client costs rose on the quickest month-to-month fee since spring 2022. In line with the Russian Central Financial institution, seasonally adjusted and annualized inflation was already 16% in July. In comparison with July of the earlier 12 months, client costs rose by 9%. Inflation was partially accelerated by the rise within the costs of regulated municipal providers originally of July.
Graph of manufacturing:
Supply: BOFIT, accessed 8/15/2024.
