×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Capital Investment, Incomes Rise in August

Russian capital investment surged the most in almost two years in August, according to a State Statistics Service report on Friday, as employment and consumer spending rose, signaling that domestic demand may help drive the recovery.

Fixed-capital investment rose an annual 10.9 percent, the most since September 2008, the report said. The increase was 0.8 percent in July.

Real wages gained 6.6 percent in August and disposable incomes jumped 7.9 percent, the most in seven months. The jobless rate fell to 6.9 percent from 7 percent in the previous month. Retail sales rose for the eighth month in a row, jumping an annual 6.5 percent and matching economist forecasts, after growing a revised 6.7 percent in July.

The economy is regaining momentum, helped by increasing domestic demand, after record-high temperatures reduced output in July. Industrial production accelerated last month as manufacturing expanded at the fastest pace since April 2008, an index prepared by HSBC Holdings showed in early September.

Russia is showing “stable growth” this year, and gross domestic product may increase as much as 4.4 percent after a record contraction of 7.9 percent in 2009, Prime Minister Vladimir Putin said Friday at an investment forum in Sochi.

The government previously estimated that the economy would expand 4 percent in 2010.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more