Russia: Recovery slows in Q3
November 13, 2017
The Russian recovery lost up steam in the third quarter of 2017, waning from the second quarter’s solid pace of growth. A preliminary estimate released by the Federal Statistics Service (Rosstat) on 13 November showed that GDP increased 1.8% year-on-year in Q3. The result followed the 2.5% expansion registered in Q2 and slightly undershot market analysts’ expectations of 2.0% growth. More detailed data including a breakdown of components will be released on 12 December.Low inflation, easier monetary policy and higher oil production are seen supporting growth next year and FocusEconomics analysts expect GDP to expand 1.8% in 2018, unchanged from last month’s forecast. In 2019, GDP is also seen increasing 1.8%.