In February 2024, Russians’ economic activity remained at the high level in January 2024 and December 2023. socialbites.ca was informed about this by the Main Directorate of the Central Federal District of the Central Bank.
“The number of sellers in marketplaces is increasing and Russians’ interest in online shopping is increasing. It is expected that 1.9 million m2 of warehouse space will be commissioned in the capital region in 2024 (+1.8 million m2 in 2023). “We are talking about 15 large objects, most of which have agreements with marketplaces, multi-channel retailers and online stores,” commented the Central Bank department.
Logistics centers are actively developing in six regions of the Central Federal District. Major projects for the construction of logistics and distribution centers are being implemented in four regions, the largest of which are in the Tambov and Tula regions.
Growth in the production of products for the consumer market (food, clothing) continued in Central Russia. Demand remained high for production equipment, transport and construction materials, supporting the production of electronic and computer equipment in the Northwest and the Urals, metalworking products in Central Russia and the South, as well as providing orders for transport building in Siberia and shipbuilding in the Far East. The Volga-Vyatka automobile industry increased its production at the beginning of the year, solving a number of problems with the supply of components. Additionally, growth in individual residential construction continued in most regions.
“Average consumer activity across regions at the beginning of 2024 remained close to the high level of previous months, against the background of high wage growth rates. “The growth in tourist flow has increased the demand for food and beverage services, hotels, transportation, communication and culture,” he said.
How reported “socialbites.ca”, December 2023 – In January 2024, the growth of consumer activity of Russians slowed down, which was reflected in the decline in the growth rate of consumer prices. But markets for goods and services remain overheated.
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