Russia’s Real Sector of Economy: Factors and Trends In January-September 2013

Abstract

In January–October 2013, business activities were determined by a decrease in the consumer and investment demand. A drop of 1.2% in investments in capital assets and stagnation in manufacturing industries as compared to January–October 2012 had a negative effect on the domestic market. A factor which supported the GDP dynamics at the level of 101.4% against January–February 2012 was growth of 5.3% in the agricultural output as compared to the respective period of the previous year. From June 2013, growth in the total number of the unemployed year-on-year was registered; it is to be noted that in October growth in the unemployment sped up and its level (in accordance with the ILO methods) amounted to 5.5% of the gainfully occupied population with 5.2% on average in the 3rd quarter of 2013. A drop in the demand in the workforce resulted in a reduction of the number of vacant jobs declared by the employment service from 2.1m vacant jobs in May to 1.6m in October 2013.