Russia GDP Growth Eases to 0.9% in Q4

Russia's gross domestic product grew by 0.9 percent year-on-year in the fourth quarter of 2017, easing from an upwardly revised 2.2 percent advance reported in the previous period. The weaker expansion was mainly due to a decline in manufacturing, mining and agriculture output.

The secondary sector contributed negatively to GDP growth, mainly due to a decline in: manufacturing (-2.8 percent vs 1.3 percent in Q3); mining and quarrying (-0.9 percent vs 1.6 percent); electricity, gas and steam, air conditioning (-4.1 percent vs 1.3 percent); and water supply, sewerage, waste management and remediation activities (-1.8 percent vs no growth). By contrast, construction output grew by 1.7 percent, compared with 1.6 percent in the previous three-month period.

Agriculture, forestry and fishing shrank by 0.5 percent after a 3.7 percent surge in the third quarter.

Within services, output rose for: wholesale and retail trade (3.6 percent, the same as in Q3); transportation and storage (1.1 percent vs 4.1 percent); accommodation and food service activities (3.9 percent vs 3.2 percent); information and communication (7 percent vs 5.3 percent); financial and insurance activities (5.3 percent vs 3.1 percent); real estate (2.4 percent, the same as in Q3); professional, scientific and technical activities (2.2 percent vs 0.9 percent); administrative and support service activities (3.4 percent vs 2.7 percent); public administration and defence; compulsory social security (0.8 percent vs 0.9 percent); human health and social work activities (1.5 percent vs -0.9 percent); and arts, entertainment and recreation (2 percent vs 1.9 percent). 

Considering 2017 full year, GDP growth was confirmed at 1.5 percent, compared with a 0.2 percent contraction in 2016.

Russia GDP Growth Eases to 0.9% in Q4

Federal State Statistics Service | Joana Ferreira |
4/2/2018 1:30:48 PM