Worsening epidemiological situation still hinders economic activity in October
30 November 2020
News
In October, output in the core industries of the Russian economy continued to contract, in annualised terms. The revival of domestic demand, including both investor and consumer demand, turned out to be unsteady. Demand was limited due to the aggravation of the epidemiological situation and the tightening of restrictions in the second half of October 2020.
Given information for Q3 and October, the decline in GDP as of the end of 2020 will be closer to 4%. The economy is expected to resume its recovery growth in 2021 Q1. Further details are available in the new issue of the information and analytical commentary Economy.
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