Russian industries show mixed resilience in Q3 2025 amid economic pressures
A new report from the Higher School of Economics (HSE University) has revealed shifts in risk resilience across key Russian industries. The study, based on surveys of over 26,000 companies, highlights which sectors are coping best—and which are struggling—amid economic pressures in Q3 2025. The latest Risk Resilience Index (RRI) report, published by the Center for Business Cycle Research at ISSEK, tracks how businesses assess factors limiting their operations. An RRI of 100% signals a neutral outlook, with values above or below indicating stronger or weaker resilience.
Among the sectors analysed—mining, manufacturing, utilities, construction, services, retail, and wholesale trade—services led the way. Its RRI reached 101.4%, marking the highest resilience in Q3 2025. Manufacturing also saw improvement, recording its first quarterly increase in two years at 100.1%. Mining edged up slightly, with an RRI of 99.5%, a 0.3 percentage point rise from Q2. However, retail trade continued to decline, dropping 0.3 points to 99.3%. Both mining and retail were flagged as the most pessimistic sectors in the quarter. The index draws on data from Rosstat’s business activity surveys, providing a snapshot of how different industries are navigating economic challenges.
The report underscores a mixed picture for Russian industries in Q3 2025. Services and manufacturing showed signs of strength, while retail and mining faced ongoing difficulties. These findings reflect how businesses are adapting—or struggling—to current economic conditions.
