The Central Bank of Russia published its September Regional Economy report, noting that consumer activity slightly accelerated in July–August, with demand for services and public catering remaining strong and car sales increasing across many regions. At the same time, the report describes a slowdown in broader economic activity. The cooling of demand in construction contributed to lower output of construction materials in the North-West, the Urals and Siberia. Several carmakers in the Volga Region revised production targets downward, while cargo traffic at southern seaports declined due to reduced shipments of petroleum products and grains. Offsetting factors included higher tourist traffic in Central Russia and the Far East supporting tourist infrastructure development, oil refineries in the Urals restoring capacity utilisation after repairs, and North-West non-ferrous metals producers expanding output. Special topics in this issue cover producer prices and price expectations, investment activity, and the commercial services and public catering market.
Central Bank of Russia 2025-09-03
Central Bank of Russia Regional Economy report finds consumption growth accelerating amid a broader slowdown
The Central Bank of Russia's September Regional Economy report highlights a slight acceleration in consumer activity during July–August, with strong demand for services and public catering, and increased car sales. However, broader economic activity slowed, with reduced construction demand and lower cargo traffic at southern seaports. Offsetting factors include increased tourist traffic and restored capacity at oil refineries.