Survey of Current Business (April-July 2023)

Sergey P. Aukutsionek – Head of Center for Transition Economy Studies, Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences, Candidate of Economic Sciences (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Andrey S. Yegorov – Senior Researcher of the Center for Transition Economy Studies, Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences, Candidate of Economic Sciences (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Inessa A. Bachirova – Researcher of the Center for Transition Economy Studies, Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Tatyana V. Serzhantova – Researcher of the Center for Transition Economy Studies, Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

In April 2023, the diffusion index of employment reached 59%, the highest value in the REB surveys since December 1991. A similar record happened with the diffusion index of three-month expectations of employment, but only with a value of 69%, which is 9 points higher than the previous maximum. The diffusion index of inventories added 12 percentage points over the month and amounted to 54% – a maximum for 2.5 years. The diffusion index of wages, on the contrary, decreased by 12 points and amounted to 52% – a minimum for 1.5 years. The level of inventories of the finished goods has risen to 99% (from the normal monthly level, taken as 100). It hasn’t been this high since March 2015.

Key words: Russia, industry, industrial enterprises, price level, wages, employment, output, investment, indebtedness to banks, order-book level, stocks of finished products, capacity utilization rate, financial situation, production restrictive factors.

JEL-codes: D22, D24, G31, L23, P23.