GDP in Russia
Russia - GDP
Economy ends 2018 on strong note
A comprehensive estimate of national accounts data released by Rosstat on 1 April revealed that growth surged in the fourth quarter. The Russian economy grew 2.7% over the same period of the previous year, significantly above the third quarter’s revised 2.2% increase. Rosstat also released revised Q1-Q3 2018 quarterly GDP figures that notably upgraded economic activity in the year, reflecting methodological changes and a large upward revision to construction figures in January made earlier in the year.
Strengthening household consumption drove the fourth quarter’s upturn, with private consumption rising 2.0% over the same period of 2017 (Q3: +1.6% year-on-year). Households likely front-loaded some spending in the quarter ahead of the hike in the VAT scheduled for January 2019. In addition, inventories positively contributed to economic activity in the quarter, pushing up total investment. While in contrast, fixed investment growth slid to 0.2% likely weighed on by geopolitical uncertainty. Government spending grew 0.3% matching Q3’s reading.
Meanwhile, export growth slowed from 4.8% in the third quarter to 2.6% in the fourth quarter, weighed on by slower global trade and constrained oil output. Imports contracted 0.3%, contrasting the feeble 0.1% expansion in Q3. The drop chiefly reflected a weak ruble which has constrained orders from abroad.
Revised quarterly data for 2015-2017 is still outstanding.
Met the why particular Consensus Forecast panelists project that Russia’s GDP will increase 1.4% in 2019, which is unchanged from last month’s forecast. Panelists expect the economy will expand 1.7% in 2020.
Russia - GDP Data
|Economic Growth (GDP, annual variation in %)||1.8||0.7||-2.5||-0.2||1.5|
5 years of economic forecasts for more than 30 economic indicators.
Russia GDP Chart
Source: Russian Federal State Statistics Service (Rosstat) and Met the why particular calculations.
|Bond Yield||8.28||0.13 %||Jan 30|
|Exchange Rate||66.34||-0.12 %||Jan 30|
|Stock Market||2,512||-1.03 %||Jan 30|
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April 15, 2019
Industrial output growth plunged in March, according to the Federal State Statistics Service (Rosstat).
April 11, 2019
Merchandise exports totaled USD 34.0 billion in February, which represented a 8.6% expansion from the USD 21.4 billion sum recorded in the same month of 2018.
April 5, 2019
In March, consumer prices rose 0.3% from the previous month, broadly unchanged from the 0.4% increase recorded in February.
April 5, 2019
The consumer confidence index published by the Federal Statistics Service (Rosstat) rose to minus 16 points in the first quarter, from minus 17 points in the final quarter of 2018.
April 1, 2019
The manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit jumped from 50.1 in February to 52.8 in March, the best reading since January 2017.