Russia: GDP eases in Q2
July 25, 2012
According to a flash estimate published by the Ministry of Economic Development on 25 July, the economy expanded 3.9% in the second quarter, matching Consensus Forecast panellists' expectations. If confirmed by final GDP figures, which will be released by Rosstat in August, the result would mark a moderation compared to the 4.9% expansion recorded in Q1. A quarter-on-quarter comparison does not corroborate the deceleration in economic activity suggested by annual figures, with GDP expanding 0.3% over the previous quarter, mirroring the result seen in the first quarter. The government expects the economy to grow 3.4% this year. For 2013, the government sees economic growth accelerating to 3.8%.
Author: Armando Ciccarelli, Head of Data Solutions