Experts from the Development Center at the National Research University Higher School of Economics say that since February 2023, Russia’s industrial sector has shown a steady recovery. This pattern fits a brief, intense rebound phase, according to the latest edition of the report titled Intensity indexes of industrial production. Attribution: HSE analysis based on Rosstat data.
From February through April, the industrial production index rose. It climbed 1.2 percent in February, 0.5 percent in March, and 0.8 percent in April after a 0.3 percent drop in January. May brought a marginal gain of 0.04 percent, a figure explained by calendar effects rather than a genuine acceleration in industrial activity, as May had an unusually high number of working days. Sources: HSE, Rosstat.
The report emphasizes that the recent rapid upturn is driven entirely by manufacturing sectors, where a prior downturn has been left behind. In contrast, mining shows a different trajectory. Production in mining began to recover in June 2022 after a brief decline but then entered a slow downward drift again. Attribution: HSE assessment of sectoral dynamics.
HSE experts see potential for a meaningful upsurge in oil and gas output, signaling that energy sectors may contribute to broader industrial gains if conditions support sustained activity. Source: HSE expert analysis.
Earlier coverage noted that meat, dairy, and canned food producers increased exports abroad even as some sectors faced weaker external demand. This pattern points to a broader shift in supply chains and trade flows as the economy adjusts to evolving market conditions. Attribution: HSE overview of sectoral movements.
The context includes considerations of monetary policy signals, with a note on potential shifts in key policy rates that could influence investment and production decisions. Source: HSE commentary tied to macroeconomic conditions.
Overall, the current period shows strength concentrated in manufacturing, with mining and energy sectors offering an area to watch for future growth. Analysts in Canada and the United States may monitor these dynamics as they explore implications for global energy supply chains, commodity prices, and industrial demand in North American markets. Attribution: HSE report synthesis for international readers.