Page 39 - RusRPTJan23

3.0 Macro Economy
3.1 Macroeconomic overview
Russian GDP was down 4.4% y/y in October, according to the Economic Ministry.
This figure indicates that October did not bring significant changes to Russia’s economic performance – the economy still remains vulnerable to a wide range of external and internal shocks.
However, while internal shocks led to a substantial contraction in consumption - which since April, has remained 10% lower than in the last year, external shocks are primarily translated through mining and manufacturing, which are also under pressure, down 2.7% y/y and 2.4% y/y respectively.
39 RUSSIA Country Report January 2023 www.intellinews.com