Template-Type: ReDIF-Article 1.0
Author-Name:Olga Izryadnova
Author-Name-First:Olga    
Author-Name-Last: Izryadnova
Author-Workplace-Name:  Gaidar Institute for Economic Policy
Title: RUSSIA’S REAL SECTOR OF THE ECONOMY IN DECEMBER 2015: FACTORS AND TRENDS
Abstract: According to preliminary estimates of the Ministry of Economic Development,
annual growth rate of GDP in 2015 has come to 96.3% in comparison with the
previous year. The fall of the growth rates of the Russian economy is due to
the drastic contraction of domestic demand. Investments in fi xed capital have
compressed by 8.4% and the volume of the consumer market has fallen by 10%
against 2014. Annual index of industrial production in 2015 has constituted
96.6%, including in manufacturing – 94.4%. Low investment demand has determined
the decrease in machine building and construction complexes.
Real income of the population in 2015 against the previous year has contracted
by 4.0% and the real wages by 9.5%, which is due to an increase of
consumer prices by 12.9% since the turn of the year. The share of poor has
grown. The situation is getting worse due to the tension on the labor market.
In December 2015, total number of jobless has moved up by 9.5%, the number
of offi cially registered unemployed – by 12.5% compared to December 2014.
Classification-JEL: E20, E21, E22, E60
Keywords: Real economy, trends,  Russian Economy
Journal: Russian Economic Developments
Year: 2016
Issue: 2
Month: February
Pages: 48-51
File-URL: http://www.iep.ru/files/RePEc/gai/recdev/683Izryadnova.pdf
File-Format: Application/pdf
Handle: RePEc:gai:recdev:683