Investment
As a result of rapid rates of
production growth in most sectors of the economy,
Russian companies and organisations continued to
demonstrate high investment activity. Fixed capital
investment in January-February 2004 expanded 13.4%
compared to the same period last year (in
January-February 2003, it rose 9.5%) and totalled 138.3
billion rubles.
Fixed capital investment
dynamics, monitored without taking account of seasonal
and random factors, in January-February 2004 showed that
the trend towards growth that began in April 2002 has
gained ground.
Favourable fixed capital
investment dynamics at the beginning of 2004 were
accompanied by a high level of business activity in the
construction branch. The value of construction work done
by contract in January-February 2004 expanded 13.5%
compared to the same period last year (in
January-February 2003, it increased 13.6%) to 148.2
billion rubles.
According to a Goskomstat study,
the average utilisation rate of construction companies
as of February 10, 2004, reached 60% against 59% a year
earlier. The backlog of orders concluded by construction
companies as of March 1, 2004, guaranteed them work for
3.1 months at the February utilisation rate (against 3.6
months a year earlier).
Housing construction continued to
expand at the beginning of the year. Housing with a
total floor space of 3.5 million square metres was
commissioned in January-February 2004, an increase of
7.5% on the same period of 2003. Almost half of that
housing (1.7 million square metres) was built by
dwellers for their own account and on credit.
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