Economic Situation

In February there was a decrease in economic activity. After a fairly sustainable recovery of growth in the iy quarter of 2009 at the beginning of this year formed a pause in economic development. In January, the growth rate the economy slowed noticeably, and in February there was the fall in most macroeconomic indicators. In relation to January, with the exception of seasonal and calendar factors, negative dynamics in the construction, industrial production, transport and trade impact on reducing the index of gdp at 0.9%. Compared to February 2009, the gdp grew by 3.9%. Contraction of economic activity in the first months of 2010 due, firstly, with more cold than in previous years, in the winter. This primarily affected the sharp decline in output in the construction and the deterioration of the dynamics of investment. Secondly, saved enough tight credit and sprosovye limitations of, including the rapid appreciation of the ruble and create uncertainties in the production program.

Third, the pause in economic activity associated with the termination of the effect of massive cash payments of enterprises and the state late last year. According to preliminary data from Rosstat, compared to February last year, investment in fixed assets declined by 7.4 percent. During January and February to corresponding period last year, a decline of 8% (January-February 2009 – -17.2 per cent). After stabilization of the monthly dynamics of investment in the second half of 2009, in January and again showed a decline in investment in fixed capital continued to decline in February – with the exception of seasonal and calendar factors, the drop was 0.4% compared to January.