GLOBAL Economy, 1H 2016 and the forecast th rough 2017

摘要

According to the Q1-Q2 2016 statistics, the period of re-engagement of previouslyreleased labour force is nearing the end. New jobs creation is not steadyfrom month to month, wages appear to have resumed growth. Meanwhile, bleak andperiodically negative productivity dynamics coupled with the continuing downturn inmining and related industries makes intensive factors-based growth barely possible.The situation has resulted in the three consecutive quarters of contraction of fixednonresidential investment, with the residential investment to follow recently. In Q2 2016,the whole construction industry contracted, as residential construction could no longeroutweigh the negative dynamics of nonresidential construction. The government constructionexpenditures trend remains the only exemption, despite temporary fluctuations.