Regional Economy report: business activity continues to recover, lending grows
Consumer activity bounced back somewhat in December—the first half of January, as compared with October—November 2022. The demand for domestic tourism services, entertainment, and public catering increased most significantly, exceeding last year’s figures.
In December—January, the output of domestic goods expanded amid a reduction in the supply of imports. Companies in a number of industries reached the full utilisation of their production capacities, and staff shortages were growing. The expansion of corporate lending sped up at the end of the year, and the amount of mortgage loans issued by banks hit a record high.
The focus of the new report is the situation in regional and sectoral labour markets and enterprises’ costs related to the structural transformation of the economy.
More details are available in the February issue of the report Regional Economy: Commentaries by Bank of Russia Main Branches.