Regional Economy report: economic activity continues to go up
Driven by higher domestic demand, most industries demonstrated an upward trend in August—September 2023. A surge in output was recorded in machine and ship building, as well as in construction of seaport infrastructure.
Consumer activity continued to grow as well, although slightly more slowly in September. Inflation accelerated due to an increase in companies’ costs and the ruble weakening amid expanded consumer demand.
The new issue of the report covers such special topics as preliminary results of 2023 harvesting and its effect on food prices, monetary conditions and credit and deposit markets, as well as output recovery and sales growth in the truck market.
More details are available in the October issue of the report Regional Economy: Commentaries by Bank of Russia Main Branches.