Russia’s industry in January – September 2009
In January – October 2009, industrial production in Russia went down by 13.3%. This deceleration of the Russian economy has been associated with the trend towards a contraction of internal-investment and consumer demand.
This year, the character of the economic activity has been significantly influenced by the increasing slump in the processing industry, which until Q IV 2008 had been demonstrating an accelerated growth rate by comparison with the extracting industries and GDP. Due to the unstable month-to-month dynamics, the output of the extraction industries in January – October this year was 81.1% of the corresponding period of 2008; the volume of extraction of mineral resources was 97.6%; and the volume of production and distribution of electric energy, gas and water was 93.2%.
Given the existing dynamics, the expected industrial production volume by the year’s results can be 88.9 % , while the output of the processing industries – 84.5%.
O. I. Izriadnova, Head of the Department of Economic Structural Issues