Investment activity of Russian companies reaching peak 2009 levels — Central Bank
MOSCOW, July 24. /TASS/. Investment activity from companies in Russia has reached a peak not seen since 2009 but businesses expect investment to grow at a more moderate pace going forward, the Central Bank said on Monday.
The business climate indicator declined overall in July 2023 by 2.6 points to 6.2, remaining near maxima over the last decade. "Current assessments of companies with respect to production and demand declined in the majority of industries. Positive expectations of undertakings in the near term were more reserved as compared to June," the regulator noted.
Production expectations for businesses in most types of economic activity also lost 1.4 points to 10.6 and were less optimistic than in June. The most noticeable decline in positive expectations was in construction. Current estimates show output went down across the economy on the whole and in all economic activities.
Positive expectations for demand dropped by 0.2 points month on month to 10.1 points in June and became more moderate. Current assessments for demand for products (services) of companies were also lower than a month earlier. Overall, their level returned back to the values seen in April - May 2023.
Price expectations of businesses edged up after their decline during the two previous months but are not yet above mean values of 2021-2022.
