Russia GDP Q1 2018

Russia

Russia: Recovery gains traction in Q1

May 17, 2018

A preliminary estimate of national accounts data released by Rosstat on 16 May revealed that the Russian recovery got back on track in the first quarter after a sharp slowdown at the end of last year. According to Rosstat, GDP rose 1.3% over the same period last year, above Q4 2017’s 0.9% expansion.

While more detailed data including a breakdown by components is expected to be released in mid-June, private consumption was likely in the driver’s seat thanks to a tight labor market and real wage growth.

FocusEconomics Consensus Forecast panelists project that Russia’s GDP will increase 1.7% in 2018, which is unchanged from last month’s forecast. Panelists expect the economy will expand 1.8% in 2019.


Author: Angela Bouzanis, Lead Economist

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