Russia: GDP slows in Q2
August 10, 2012
According to the flash estimate published by the Federal State Statistics Service (Rosstat) on 10 August, GDP grew 4.0% in annual terms in the second quarter. The result represents a moderation compared to the 4.9% expansion recorded in Q1 but came in line with market expectations. In addition, the result comes broadly in line with the estimate published by the Ministry of Economic Development on 25 July, which had the economy expanding 3.9% in Q2. The government recently lifted its growth forecast for this year and currently expects GDP to expand 3.5% in 2012, up from the previous 3.4% forecast.