Russia: GDP moderates in first quarter
April 25, 2012
According to a flash estimate published by the Ministry of Economic Development on 25 April, the economy expanded 4.0% in the first quarter of 2012, matching Consensus Forecast panellists expectations. If confirmed by final GDP figures, which will be released by Rosstat in May, the result would mark a moderation compared to the 4.8% expansion recorded in Q4 2011. A quarter-on-quarter comparison also points to a deceleration in economic activity, with GDP expanding 0.2% over the previous quarter, down from the 1.4% increase recorded in the previous three-month period. The government recently revised the growth forecast for this year from a previously expected 3.7% to the current 3.4%. In 2013, the Ministry sees economic growth accelerating to 3.8%.
Author: Armando Ciccarelli, Head of Data Solutions