From BOFIT right now (as translated by Google):
In keeping with the Russian Statistical Institute’s preliminary estimate, Russia’s GDP grew by 4% year-on-year in April-June. Development has clearly slowed down in latest months. In June, (seasonally adjusted) manufacturing declined in trade and development. In June, the long-continued progress additionally slowed down in consumption-driven sectors. The sharp improve within the common actual month-to-month wage has slowed down and the extent of the typical wage has remained nearly unchanged in latest months.
Though the expansion in shopper demand has slowed down, home manufacturing and imports have developed much more poorly. The escalation of provide issues has additional accelerated inflation. In July, shopper costs rose on the quickest month-to-month charge since spring 2022. In keeping 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, shopper costs rose by 9%. Inflation was partially accelerated by the rise within the costs of regulated municipal providers firstly of July.
Graph of manufacturing:
Supply: BOFIT, accessed 8/15/2024.
