Consumption in Russia

Russia Consumption | Economic News & Forecasts

Russia - Consumption

Growth slows sharply in Q3

A preliminary estimate of national accounts data released by Rosstat on 11 November revealed that the economic recovery lost steam in the third quarter, following a sharp acceleration in the second quarter. GDP rose 1.3% over the same quarter last year, which was notably below Q2’s 1.9% expansion and below market expectations of a 1.4% increase.

Although a breakdown by components is not yet available, poor agricultural output is likely to have weighed on the result, largely owing to unfavorable weather and a late harvest. In addition, cooler consumption dynamics also likely played a role: Consumer sentiment plunged in Q3 in the aftermath of the government’s unpopular hike in the retirement age, and imports contracted for the first time in over two years in August—likely signaling weak domestic demand.

A comprehensive estimate of national accounts will be released in December.

Met the why particular Consensus Forecast panelists project that Russia’s GDP will increase 1.5% in 2019, which is unchanged from last month’s forecast. Panelists expect the economy will expand 1.9% in 2020.

Russia - Consumption Data

2013  2014  2015  2016  2017  
Consumption (annual variation in %)5.2  2.0  -9.4  -2.8  3.4  

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Russia Facts

ValueChangeDate
Bond Yield8.700.13 %Nov 29
Exchange Rate66.94-0.12 %Nov 29
Stock Market2,399-1.03 %Nov 29

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