Regional Economy report: consumer demand continues its gradual recovery
In March—the first half of April 2023, consumer activity continued to bounce back, most notably in services and public catering. Retailers and service companies were optimistic for the most part. Monthly growth of consumer prices sped up slightly, while remaining moderate in the majority of product markets.
Economic activity was up in a number of industries. Higher domestic demand supported output. The construction of transport and warehouse infrastructure expanded, and companies managed to settle a part of problems related to the Eastern logistics infrastructure.
The new issue of the report focuses on the impact of the recovery of consumer demand and changes in its structure on companies’ business, as well as the situation in the agroindustrial complex before spring sowing and expectations about the harvest.
More details are available in the new issue of the report Regional Economy: Commentaries by Bank of Russia Main Branches.