Russian Economy Stalls for 2nd Straight Quarter

The Russian GPD stagnated for the second consecutive quarter in the last three months of 2014 as a rebound in manufacturing was not enough to offset a drop in mining and construction.

On a quarter-on-quarter seasonally adjusted basis, construction declined by 1 percent and mining by 0.2 percent. Fishing contracted the most (-3.82 percent), followed by agriculture, hunting and forestry (-2.81 percent), 

In contrast, public administration, defense and social security posted the highest gain (1.8 percent), followed by financial activities (1.6 percent), manufacturing (1.2 percent) and wholesale and retail trade (0.7 percent).

Year-on-year, the economy advanced 0.4 percent in the last quarter of 2014, bringing full year growth to 0.6 percent, the lowest since 2009 recession. 

Russian Economy Stalls for 2nd Straight Quarter

Joana Taborda |
4/9/2015 11:25:22 PM