Russia: Too Many Risks Now
Source: Goodfon
Instrument
The VanEck Vectors Russia ETF (BATS:RSX) is a fund that offers exposure to equities from Russia, which include publicly-traded companies that are incorporated in Russia or that are incorporated outside of Russia but have at least 50% of their revenues/related assets in Russia.
Source: VanEck
Economic recovery has slowed down
According to the latest official data, in August, the Russian retail turnover slowed down to 2.7% YoY. But I am not inclined to think that acceleration ended here. It’s just that in the last month of the summer, the population increased their travel spending.
In August, the growth rate of industrial production in Russia fell to 7.2% YoY. This is slightly less than in the previous month:
But judging by the structure of this index, only the mining industry demonstrates a recovery trend:
Another indicator that I constantly monitor is the dynamics of construction in Russia. This
