Russia Economic Growth Slows Down in Q4


Russia's gross domestic product expanded 1.8 percent on the quarter, down from 2.7 percent for the same period of 2011. Year-on-year, GDP rose 2.1 percent, slowing from an upwardly revised 3 percent in the third quarter, according to the Federal Statistics Service.

The biggest downward pressure came from agriculture, hunting and forestry (-9.5 percent). Government spending fell 0.7 percent and education 0.2 percent. The biggest upwards pressure came from financial services (+11.1 percent), hotels and restaurants (+5.6  percent) and real estate (+4.3 percent).

Russian economy expanded at the slowest pace since it began recovering at the start of 2010 as stuttering global growth curbed demand for commodities exports. Exports in the fourth quarter were up 1.4 percent year-on-year and imports increased 9.2 percent.
 
For 2012, the statistics service reiterated its first estimate of economic growth at 3.4 percent, down from 4.3 percent in 2011 and 4.5 percent in 2010.

Russia Economic Growth Slows Down in Q4


GKS | Nuno Fontes | nuno@tradingeconomics.com
4/2/2013 4:30:40 PM