Russian Industrial Sector in August 2021: Shortage of Workers

The recommencing growth in demand increased the level of satisfaction with its volumes to 78% of the surveyed industrial enterprises. The dynamics of output lagging behind the growing demand and the logical caution in the context of the ongoing fight against coronavirus, keep manufacturers from filling warehouses of finished products.In the context of the pandemic crisis, the industry is experiencing challenges in replenishing stocks of raw materials. The shortage of personnel emerged early in Q3, forced enterprises to take measures in July-August to restore the recruitment of workers. The increase in the key rate by the RF Central Bank in July did not affect the rate on loans offered to the industry.