Russia GDP


GDP growth edges up in Q1

According to the flash estimate published by the Federal State Statistics Service (Rosstat) on 15 May, GDP grew 4.9% in the first quarter over the same period last year. The result represents a slight acceleration compared to the 4.8% expansion recorded in Q4 2011 and came in above market expectations that had the economy growing 4.1%. In addition, the result marks an improvement compared to the estimate published by the Ministry of Economic Development on 25 April, which had the economy expanding 4.0% in Q1. The government expects the economy to grow 3.4% this year. For 2013, the government sees economic growth accelerating to 3.8%.

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