Russia GDP Growth Slows to Over 2-Year Low in Q1
Russia's gross domestic product grew by 0.5 percent year-on-year in the first quarter of 2019, easing from a 2.7 percent expansion reported in the previous period, preliminary data showed. That was the weakest growth rate since the last quarter of 2016.
5/17/2019 1:24:02 PM
GDP growth for the first quarter came in below the Ministry of Economic Development's early estimate of 0.8 percent. According to figures released last month, a slowdown had been expected for all major sectors: agriculture (1.1 percent vs 4.1 percent in Q4); construction (0.2 percent vs 4.1 percent); retail trade (1.8 percent vs 2.8 percent); freight turnover of transport (2.1 percent vs 2.3 percent); and industry (2.1 percent vs 2.7 percent).
The Federal State Statistics Service did not provide any further details on the revised figure.