Central Bank: the recovery of the production activity of Russian companies has stopped

According to the Central Bank, the assessments of enterprises regarding output volumes have worsened.

At the same time, it is noted that they were higher than the local lows of March-April 2022.

The Bank of Russia also said that business climate assessments worsened in October.

Prior to that, their growth was observed for six months.

The commentary says that this is due to the strengthening of the negative in the current assessments of the business climate and less business optimism for the next three months.

Earlier, Kirill Tremasov, Director of the Monetary Policy Department of the Central Bank of Russia, said that the Russian regulator at the October meeting will most likely raise the forecast for GDP in 2022.

In September, the Bank of Russia lowered its inflation forecast in the country to 11-13% for 2022.