Russia Economic Outlook
May 10, 2016Following a strong contraction Q4 2015, Russia’s economic activity decreased in Q1, although the drop is expected to be less severe than in the previous quarter. Industrial production took a step back from an incipient recovery in March as output contracted following February’s modest expansion. Moreover, a continuous deterioration in economic conditions prompted unemployment to rise in March. On the external front, weakness in global demand coupled with the country’s deep recession prompted exports to contract at a double-digit rate again in March. Heading into Q2, leading indicators suggest that the economy is still fragile. In April, the manufacturing PMI fell to an eight-month low, while the services PMI continued to improve. These results highlight the diverging performance between Russia’s goods producers and services providers once again.
Russia Economy Data
5 years of Russia economic forecasts for more than 30 economic indicators.
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|Bond Yield||8.85||-0.23 %||May 25|
|Exchange Rate||67.05||0.0 %||May 25|
|Stock Market||908||1.85 %||May 25|
Russia Economic Growth
May 10, 2016The economy will remain in recession this year. Weak private consumption is expected to be the main drag on growth in 2016 as high inflation, low wages and rising unemployment will continue to hit households’ spending. However, a gradual rise in oil prices and the stabilization of the currency will provide some support to growth. Analysts expect the economy to contact 1.3% this year, which is unchanged from last month’s forecast. For 2017, forecasters expect the economy to increase 1.3%.
Russia Economic News
May 18, 2016
Industrial production expanded in April and recovered the lost ground in March.
May 16, 2016
The Russian economy was more resilient than expected in the first quarter, despite a renewed fall in oil prices at the beginning of the year and heightened volatility in financial markets.
May 6, 2016
Consumer prices rose 0.4% in April over the previous month, which was down from a 0.5% increase in March.
May 6, 2016
Operating conditions in the manufacturing sector continued to worsen heading into the second quarter.
May 2, 2016
Russia’s trade surplus totaled USD 6.9 billion in March, which came in well below the USD 15.8 billion surplus registered in the same month last year.