Russia

Russia GDP Q3 2018

Russia: Growth slows sharply in Q3

A preliminary estimate of national accounts data released by Rosstat on 11 November revealed that the economic recovery lost steam in the third quarter, following a sharp acceleration in the second quarter. GDP rose 1.3% over the same quarter last year, which was notably below Q2’s 1.9% expansion and below market expectations of a 1.4% increase.

Although a breakdown by components is not yet available, poor agricultural output is likely to have weighed on the result, largely owing to unfavorable weather and a late harvest. In addition, cooler consumption dynamics also likely played a role: Consumer sentiment plunged in Q3 in the aftermath of the government’s unpopular hike in the retirement age, and imports contracted for the first time in over two years in August—likely signaling weak domestic demand.

A comprehensive estimate of national accounts will be released in December.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest