Russia: September economic activity picks up
October 30, 2011
According to the index of economic activity published by the Federal Statistics Service (Rosstat), the economy added 7.2% in September over the same month last year. The result represents an improvement compared to August, when the index expanded 6.5%, and marks the strongest expansion since the beginning of the year. The annual trend improved as a result of the pick-up in economic activity, as annual average growth rose to 5.0%, after reaching 4.6% last month. The Ministry of Economic Development expects the economy to expand 4.1% in 2011. In 2012, the Ministry sees economic growth moderating to 3.7%.
Author: Armando Ciccarelli, Head of Data Solutions