Industrial Production Dynamics in May-July 2021: Growth Factors

Динамика промышленного производства в мае-июле 2021 г.: факторы роста

Andrey Kaukin and Miller Eugenia
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Miller Eugenia: Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2021, issue 9, 27-32

Abstract: Analysis of trend components of production indices for May through July 2021 suggests that growth factors in trends for the extractive industries since the beginning of 2021 continue to have effect for two reasons: a pickup in demand for power-generating coal on the part of European and Asian countries and an ebbing restrictions related to the OPEC+ agreement, owing to increased quotas on daily oil production volumes in member countries. The manufacturing sector’s trend component keeps growing, too, on the back of high prices and active external demand for industry products, which account for a substantial share of production (metallurgy, oil refining and the chemical industry). The article is prepared based on the results of the research work of the RANEPA state order for 2021 «Modeling and forecasting of indices of the Russian wholesale energy market using methods of combining data of different frequencies»).

Keywords: industrial sector; sectors of economy; mining industry; manufacturing; Rosstat; OPEC+ deal (search for similar items in EconPapers)
JEL-codes: L16 L6 L7 L8 L9 (search for similar items in EconPapers)
Date: 2021
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