Russia: Economic activity decelerates in March
May 29, 2011
Recent activity data suggest that the economy may be losing momentum. According to the index of economic activity published by Federal Statistics Service (Rosstat), the economy added 3.3% in March over the same month last year, following on a stronger 4.3% print in February. Quarterly figures confirm the moderation suggested by the monthly reading, as the economy expanded 4.3% in the first quarter, down from the 6.4% increase recorded in the last quarter of 2010. The Ministry of Economic Development expects the economy to expand 4.2% in 2011. In 2012, the Ministry sees economic growth moderating to 3.5%.
Author: Armando Ciccarelli, Head of Data Solutions