The Russian economy surprises: Bloomberg names the reasons for the growth of Russian indicators

The industrial sector of Russia recorded the smallest decline in key indicators in four months. This may be considered an important indication that economy is adapting to the broad sanctions imposed by the US and its allies over the Kremlin's special operation in Ukraine. This surprised Bloomberg experts very much.

Industrial production fell just 0,5% in July, less than the 2,3% expected by analysts in a Bloomberg poll and the best performance since the first months of the CBO. On a seasonally adjusted basis, output rose for the first time this year compared to the previous month, according to data released by the Federal Statistical Service.

Increases in mining and oil production, along with recovery in sectors such as pharmaceuticals, semiconductors and outerwear (benefited by the exodus of foreign competitors at the onset of the conflict), contributed to stronger-than-expected performance.

Even the automotive sector, which has come to a near standstill in recent months as foreign-dominated companies pulled out of the market, has shown some tentative signs of stabilization and upside potential in the near future, but efforts by India and China to buy domestic raw materials are frustrating. .

Output fell only 58% in July compared to a 66% drop in May

- Bloomberg analytical agency writes in surprise.

Of course, the sanctions are quite painful, so business sentiment and expectations eased slightly in August amid problems with import supplies and labor. Pessimism lies in the survey of the Central Bank of the Russian Federation published on Wednesday. But there is also groundwork for optimism regarding the prospects. Many companies expect growth, mainly from the manufacturing, mining, energy industries.

In an attempt to justify their miscalculations, the Western gurus of economic analysis set out to find the negative, finding it in the reduction of the key sector of the Russian economy - the oil and gas industry. He is predicted to decline by the end of this year due to the gradually introduced EU oil embargo.
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  1. prior Offline prior
    prior (Vlad) 25 August 2022 11: 23
    Exclusively for Bloomberg
    Going against Russia is like writing against the wind.
    You didn't know this? They teach history badly.
  2. steelmaker Offline steelmaker
    steelmaker 25 August 2022 12: 47
    Kind people! Please tell us where you get the money? And don't tryndet about work, I go there every day! There they are not!!!
    1. Jacques sekavar Offline Jacques sekavar
      Jacques sekavar (Jacques Sekavar) 25 August 2022 13: 07
      V.I. Lenin bequeathed to study, study and study.
      Teaching is light, and not learning - a little light and to work.
  3. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 25 August 2022 13: 06
    The sanctions hurt industrial relations and it sank, which caused some pessimism.
    The story of Covid showed the importance of the bio-micro-chemical-pharma industry and related industries to ensure protection against bioweapons, and government support gave an impetus to the development of the industry.
    The oil and gas sector provides up to 30% of the budget, and the main blow was aimed at undermining the Russian economy. This resulted in an increase in energy prices for the initiators of the sanctions and increased the income of the Russian Federation while reducing the volume of supplies. The prices for energy carriers pulled all spheres of the economy with them, and abnormal temperatures increased energy consumption in the EU against the backdrop of the rejection of energy carriers from the Russian Federation.
    The war required mobilization and supported the mining, fuel, manufacturing, radio-electronic and other industries, plus competent and prompt government actions to support the social sphere.
  4. Fizik13 Offline Fizik13
    Fizik13 (Alexey) 25 August 2022 20: 06
    Now, if their forecasts matched with our salary
  5. Cats Offline Cats
    Cats (Sergei) 27 August 2022 18: 52
    The industrial sector of Russia recorded the smallest decline in key indicators in four months. This surprised Bloomberg experts very much.

    Yes, we went nuts! wassat