Consumption in Russia

Russia Consumption | Economic News & Forecasts

Russia - Consumption

Economic growth accelerates in Q2 but remains weak nonetheless

GDP growth accelerated to 0.9% year-on-year in the second quarter of 2019, according to a preliminary estimate released on 12 August. This was almost double the first quarter’s 0.5% expansion and was in line with the expectations of most market analysts, as well as those of the Central Bank.

While a breakdown by components is not yet available, faster industrial output growth and slowly strengthening consumer demand metrics likely led the acceleration in the second-quarter. The ruble gained ground against the U.S. dollar in Q2, which, coupled with moderating price pressures, lower unemployment and slightly less downbeat consumer confidence, should have supported private consumption. That said, intensifying external headwinds in Q2 likely curbed the overall expansion. Particularly, merchandise exports contracted for the first time in nearly three years in the quarter amid constrained oil production and low global crude prices.

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

FocusEconomics panelists see growth at 1.2% in 2019, which is down 0.2 percentage points from last month’s forecast. In 2020, GDP is seen increasing 1.8%.

Russia - Consumption Data

2013  2014  2015  2016  2017  
Consumption (annual variation in %)5.2  2.0  -9.4  -1.9  3.3  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.

Download

Russia Facts

ValueChangeDate
Bond Yield7.300.13 %Jul 31
Exchange Rate63.38-0.12 %Jul 31
Stock Market2,740-1.03 %Jul 31

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.

Download

Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form