Russian GDP Contracts 0.3% QoQ in Q1

The Russian economy shrank 0.3 percent quarter-on-quarter in the first three months of 2014, following a revised 0.3 percent expansion in the previous two quarters. It is the first contraction in five quarters, as production in nearly all main sectors of the economy decreased.
Joana Taborda | joana.taborda@tradingeconomics.com 7/3/2014 4:02:35 PM
On a quarter-on-quarter seasonally adjusted basis, agriculture and wholesale and retail trade shrank the most (-1.9 percent each). The construction sector contracted 1.5 percent; fishing activities fell 1 percent, manufacturing dropped 0.6 percent and mining and quarrying decreased 0.5 percent. In contrast, financial activities recorded the highest growth rate (5.5 percent), followed by real estate activities (2.5 percent).

Year-on-year, the economy advanced 0.9 percent.

Russian GDP Contracts 0.3% QoQ in Q1