Page 35 - RusRPTDec22

mining and quarrying industry contracted by 2% y/y. While crude oil output was up slightly, growth slowed to just 0.5% in September. Production of all other major mining products contracted. The drop was led by lower output of natural gas, which was down by 26% y/y (not including LNG). The drop in manufacturing output accelerated in September to 4%.
Agriculture and construction continued to prop up the economy in September. Agricultural output rose by 7% y/y, while construction, despite some cooling, was still up by 6% y/y in September. Housing construction activity, however, slipped into decline in September, falling by 8% y/y.
The economic impacts of the partial mobilisation, which started in late September and was stated as completed at end-October, are already apparent. Russian company surveys from October reveal that about a third of respondents said that the mobilisation had affected their employees. An even larger share of firms said they expected the mobilisation to affect negatively the labour market and demand in coming months.
35 RUSSIA Country Report December 2022 www.intellinews.com