Economic activity continues to rebound in July
28 August 2020
News
Economic activity improved against June, with industrial output resuming an upward trend for the first time since March 2020. Agriculture was also demonstrating solid growth. These are the findings of the new issue of the information and analytical commentary ‘Economy’.
The easing of the restrictions affecting the operation of the service sector and pent-up household demand promoted a rise in retail turnover and recovering consumer activity. Investment demand continued to revive. The decrease in unemployment in the labour market slowed down.
However, despite the recovery, subdued aggregate demand will hinder the rise in consumer prices. According to the Bank of Russia’s forecast, GDP will shrink by
