The output of products and services for basic types of economic activity in Russia stepped up by no more than 4.8 percent on year in June.
Photo: Evgeny Dudin
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Industry Expects No End of Slowdown
Russia’s statistics authority Rosstat reported yesterday the final conclusions for the industry’s state in the first half of the year. The output of products and services for basic types of economic activity, i.e. with regard to the changes in physical volume of products of agriculture, industry, construction, cargo turnover, retail and wholesale, stepped up by no more than 4.8 percent on year in June, showing the minimal growth from February of 2006. The reason was the industry’s slowdown to 0.9 percent in June of 2008.
Regardless, most of the economic analysts and entrepreneurs expect the average industrial pace to revive in July. The consensus-forecast of Interfax gives the increase of 4.5 percent for that month. Interfax released the index of entrepreneur confidence for July yesterday. It had been compiled in view of three industries traditionally covered by Rosstat – extractive industry, processing industry and production and distribution of electric energy, gas and water.
The index reflects negative expectations for two industries (mining and production and distribution of energy, gas, water). The exception is the processing industry, where the expectations are stable.
The confidence in extractive industry that has been stagnant since early this year, lowered to 9 percent in July from 10 percent in June. The minimal value was posted in wood working (down 2 percent), while the maximum one was recorded in production of rubber and plastic goods (up 11 percent), manufacture of transport vehicles and equipment (up 10 percent), i.e. in the branches showing the highest rates the whole year.
www.kommersant.com
All the Article in Russian as of Aug. 01, 2008
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