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Russian Industry in October-November 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.

In October-November 2019, the Russian industry retained output growth at the level of the previous months despite the negative dynamics of demand and growing excessiveness of stocks of finished products. Enterprises’ plans and forecasts were not subjected to a reverse adjustment, while plans to hire workers demonstrated optimism which was untypical of this season. In Q4 2019, industrialists reported about cuts in the minimum lending rates offered by banks.

Key words: Russian industry, demand, output, employment, finished goods inventory, industrial lending, personal, investments, actual changes and expectations.