Russia Economic Outlook
September 6, 2016The economy contracted a further 0.6% annually in Q2 according to a preliminary estimate, which marks the slowest decrease since the economy began to contract in 2015 and a significant improvement over Q1 when it shrank 1.2%. Although economic growth is absent, recent data suggest that the recovery remains on track. In July, industrial production surprised with a contraction after three consecutive increases, yet a fourth consecutive drop in unemployment offset the miss in industrial output. Furthermore, the contraction in exports in July was the softest in nearly two years and the manufacturing PMI jumped into expansionary territory in August after contracting in July. Ahead of the 18 September parliamentary election, polls suggest that the ruling United Russia party (UR) of President Vladimir Putin has lost popularity, slipping below the threshold needed to secure the majority of seats in the Duma.
Russia Economy Data
5 years of Russia economic forecasts for more than 30 economic indicators.
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|Bond Yield||8.15||-0.85 %||Sep 29|
|Exchange Rate||63.95||0.41 %||Sep 29|
|Stock Market||1,996||0.78 %||Sep 29|
Russia Economic Growth
September 6, 2016The economy has undergone a painful adjustment and the contraction appears to have softened out in H1. Economic activity is seen as strengthening gradually in H2 and analysts project that GDP will contract 0.7% in 2016, up 0.1 percentage points over last month’s forecast. Nonetheless, risks to the outlook remain due to the slow recovery in oil prices and Brexit-related uncertainty. For 2017, analysts see the economy rebounding and expanding 1.3%.
Russia Economic News
September 16, 2016
At its 16 September monetary policy meeting, the Central Bank announced a cut to the one-week repo rate from 10.50% to 10.00%, a decision that was in line with market expectations.
September 15, 2016
Growth in Russian industrial production returned to positive territory in August, following an abrupt contraction in July.
September 9, 2016
The contraction in the Russian economy in the second quarter was the slowest since the recession began in late 2014.
September 5, 2016
The IHS Markit Manufacturing indicator recovered the ground lost in July and rose to 50.8 in August after posting a disappointing 49.5 in July.
September 5, 2016
In August, consumer prices were unchanged over the previous month, which was below the 0.5% increase registered in July.