Russia: November economic activity moderates
December 15, 2011
According to the index of economic activity published by the Federal Statistics Service (Rosstat), the economy added 5.7% in November over the same month last year. The result marked a notable deterioration compared to October, when activity grew 7.5% and, in fact, represents the slowest expansion seen since June. The trend remained stable though, with annual average growth remaining unchanged over the previous month at 5.4%. On 12 January, Prime Minister Vladimir Putin announced that the government estimates the economy to have grown 4.2% in the whole year 2011, slightly up from a previously forecasted 4.1% and broadly in line with the 4.0% expansion recorded in 2010. Currently, the government expects the economy to grow 3.7% in 2012 and 3.9% in 2013.
Author: Armando Ciccarelli, Head of Data Solutions