Russia: October economic activity picks up
November 30, 2011
According to the index of economic activity published by the Federal Statistics Service (Rosstat), the economy added 7.5% in October over the same month last year. The result represents an improvement compared to September, when activity grew 7.2%, and marks the strongest expansion since the end of 2010. The annual trend improved as a result of the pick-up in economic activity, as annual average growth rose to 5.4%, after reaching 5.0% 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