The Central Bank of Russia (Bank of Russia) released a new issue of its Regional Economy report, finding that business activity increased in October–November, mainly supported by higher industrial output, while consumption growth slowed in most Russian regions. The report also points to a surge in car lending and broadly rising car sales in October as purchases moved ahead of an expected increase in the recycling fee. Industrial gains were driven by higher oil and gas production in the Urals and increased coal output in Siberia and the Far East, while oil refining in the South returned to prior levels. On the demand side, shopping mall footfall fell in the Urals and the North-West, and retailers in the Volga Region and the Far East reported weaker demand for furniture, construction materials and home improvement goods. Special topics in this issue cover production capacity utilisation, household incomes and housing construction.
Central Bank of Russia 2025-12-10
Central Bank of Russia publishes Regional Economy report showing higher business activity and slower consumption growth across regions
The Central Bank of Russia's Regional Economy report shows increased business activity in October–November, driven by higher industrial output, especially in oil, gas, and coal production. Car lending and sales surged ahead of a recycling fee hike, while consumption growth slowed, with weaker demand in shopping malls and for certain goods. The report also examines production capacity utilisation, household incomes, and housing construction.