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Industry Started to Lack Labor in Q3 2019

Sergey V. Tsukhlo – Head of Business Surveys Department of the Gaidar Institute, Candidate of Economic Sciences (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

The results of monthly business surveys have shown a somewhat decrease in the level of satisfaction of the Russian industry with the results of Q3 2019 as compared to the record-high indicators of the previous quarter. The industry adaptability index (normality) fell 3 points after it had achieved its historical maximum in Q2 2019 over the entire period of calculations (1994–2019). A decrease in the level of satisfaction with the current state of things measured by the index of normality is in harmony in the industry with the stable positive value of the overall indicator, that is, the industrial confidence indicator. More importantly, late in Q3 2019 the latter amounted to the five-month maximum, which is quite in line with the data of the official industrial statistics.

Key words: Russian industry, index of industry adaptation, stock of finished goods, stock of raw materials, stock of materials, demand, employees supply, financial/economic situation.