09.06.22 Review

The Decline Gains Momentum: April’s outputs have fallen in seven out of nine sectors of the Russian economy

By late April the Index of Industrial Production Volumes in Russia (closest to GDP but more readily available indicator of the state of the economy) declined across all industries by 7.3% as compared to December 2021 data, calculations of the Higher School of Economics Development Center show.

Whereas in March most of the industries were showing steady results or even modest growth due to accumulated inertia and positive outcomes by end of 2021, in April seven of nine types of the monitored economic activities were in decline.