Russia: Economic activity remains robust in January
March 2, 2011
Recent economic activity data suggest that the economy had a good start to 2011. According to the index of economic activity published by Federal Statistics Service (Rosstat), the economy added a robust 5.1% in January over the same month last year, following on an even stronger 5.5% print in December 2010. The trend continues to point upwards, with annual average growth increasing from 4.6% in December to 4.9%, reaching its highest level since December 2008. The Ministry of Economic Development expects the economy to expand 4.2% in 2011. In 2012, the Ministry sees economic growth moderating to 3.9%.
Author: Armando Ciccarelli, Head of Data Solutions