Russia Q2 GDP Growth Rate Confirmed at Near 5-Year High

Russia's gross domestic product advanced 2.5 percent year-on-year in the second quarter of 2017, unrevised from the preliminary estimate and following a 0.5 percent growth in the previous period, final figures showed. It was the strongest pace of expansion since the third quarter of 2012, as output grew firmly for wholesale and retail trade, mining, manufacturing and construction.
Federal State Statistics Service | Joana Ferreira | joana.ferreira@tradingeconomics.com 9/11/2017 3:53:19 PM
It was the third straight three-month period of growth and the strongest pace of expansion since the third quarter of 2012. Within services, output was driven by: Wholesale and retail trade (4.7 percent from 0.2 percent in Q1); real estate activities (2.7 percent from -0.9 percent); transportation and storage (3.7 percent from 3.3 percent); information and communication activities (4.1 percent from -2.3 percent); financial and insurance activities (2.7 percent from 0.1 percent); and administrative and related additional services (2.2 percent from -1 percent).

Also, industrial production contributed positively to growth with all categories expanding: Mining (4.6 percent from 4.1 percent in Q1); manufacturing (1.2 percent from 1 percent); construction (2.8 percent from -4.5 percent); electricity, gas and steam, air conditioning (2 percent from 0.9 percent); and water supply, water disposal, organization of waste collection and disposal, pollution control activities (0.9 percent from -3.7 percent).

Agriculture advanced slightly by 0.1 percent after contracting by 0.9 percent in the first quarter.

In the first half of the year GDP rose 1.5 percent, compared with a 0.5 percent contraction in the same period of 2016.

The central bank expects economic growth at 1.3 to 1.8 percent in 2017. 

Russia Q2 GDP Growth Rate Confirmed at Near 5-Year High




News

Russia Q3 GDP Growth Confirmed at 1.7%
Russia's gross domestic product grew by 1.7 percent year-on-year in the third quarter of 2019, following a 0.9 percent expansion in the previous period and beating market expectations of 1.6 percent, preliminary data showed. Growth was mainly supported by agriculture, industry, and wholesale trade.
Published on 2019-12-12

Russia Q3 GDP Growth Beats Forecasts
Russia's gross domestic product grew by 1.7 percent year-on-year in the third quarter of 2019, following a 0.9 percent expansion in the previous period and beating market expectations of 1.6 percent, preliminary data showed. Growth was mainly supported by agriculture, industry, and wholesale trade.
Published on 2019-11-13

Russia Q2 GDP Growth Confirmed at 0.9%
Russia’s annual economic growth was confirmed at 0.9 percent in the second quarter of 2019, accelerating from an over two-year low of 0.5 percent in the previous period. Industrial activity was mainly supported by utilities output; and financial & insurance activities growth accelerated while real estate activities and public administration & defence rebounded.
Published on 2019-09-09

Russian Economy Grows 0.9% in Q2
Russia's GDP expanded by 0.9 percent year-on-year in the second quarter of 2019, accelerating from an over two-year low of 0.5 percent in the previous period, preliminary data showed. Industrial production was the main driver of growth.
Published on 2019-08-12

Russia Q1 GDP Growth Confirmed at 2-Year Low
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 and in line with preliminary estimates. That was the weakest growth rate since the last quarter of 2016.
Published on 2019-06-18

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 and missing the Ministry of Economic Development's early estimate of 0.8 percent, preliminary data showed. That was the weakest growth rate since the last quarter of 2016, as output expanded at softer rates for all major sectors.
Published on 2019-05-17

Russia GDP Growth Accelerates to 2.7% in Q4
Russia's gross domestic product grew by 2.7 percent year-on-year in the fourth quarter of 2018, following an upwardly revised 2.2 percent expansion reported in the previous three-month period, driven mainly by information & communication, financial & insurance activities and real estate activities, alongside mining and utilities output. A rebound in agriculture also supported the GDP growth.
Published on 2019-04-02

Russia Q3 GDP Growth Revised Higher to 1.5%
Russia's gross domestic product grew by 1.5 percent year-on-year in the third quarter of 2018, up from a preliminary estimate of 1.3 percent and following a 1.9 percent expansion reported in the previous three-month period. Output growth slowed for accommodation & food service activities; transportation & storage; public administration & defense; and information & communication as the positive contribution from the soccer World Cup eased. In addition, manufacturing expansion also slowed and agriculture contracted, while financial & insurance activities, wholesale & retail trade and construction output advanced faster.
Published on 2018-12-12

Russia GDP Growth Slows to 1.3% in Q3
Russia's gross domestic product grew by 1.3 percent year-on-year in the third quarter of 2018, following a 1.9 percent expansion reported in the previous period, a preliminary estimate showed. Retail trade, cargo turnover and industrial production grew at a slower pace while agriculture and construction output contracted.
Published on 2018-11-13

Russia Q2 GDP Growth Revised Higher to 1.9%
Russia's gross domestic product grew by 1.9 percent year-on-year in the second quarter of 2018, up from a preliminary estimate of 1.8 percent and following a 1.3 percent expansion reported in the previous three-month period. The stronger growth rate was mainly driven by gains in hotel, transport and restaurant sectors as the soccer World Cup had a positive impact on the economy. In addition, manufacturing and mining output increased at a faster pace.
Published on 2018-09-10

Russian Economy Grows 1.8% in Q2
Russia's gross domestic product grew by 1.8 percent year-on-year in the second quarter of 2018, following a 1.3 percent expansion reported in the previous period, a preliminary estimate showed. It was the seventh straight quarter of growth after two years of contraction driven by services on the back of the soccer World Cup, in particular the hotel, transport and restaurant sectors.
Published on 2018-08-10

Russia GDP Growth Confirmed at 1.3% YoY in Q1
Russia's gross domestic product advanced by 1.3 percent year-on-year in the first quarter of 2018, matching the preliminary estimate and following a 0.9 percent growth in the previous period. The stronger expansion was mainly driven by gains in financial and insurance, real estate activities and public administration. In addition, output rebounded for manufacturing and mining.
Published on 2018-06-18

Russia Economy Grows 1.3% in Q1
Russia's gross domestic product grew by 1.3 percent year-on-year in the first quarter of 2018, following a 0.9 percent expansion reported in the previous period, a preliminary estimate showed. It was the sixth straight quarter of growth after two years of contraction.
Published on 2018-05-16

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. Considering 2017 full year, GDP growth was confirmed at 1.5 percent, compared with a 0.2 percent contraction in 2016.
Published on 2018-04-02

Russian Economy Grows for First Time in 3 Years
Russia's gross domestic product expanded by 1.5 percent year-on-year in 2017, compared with a 0.2 percent contraction in 2016, a preliminary estimate showed. It was the first year of growth since 2014, mainly boosted by a rebound in mining. The country's central bank was expecting the GDP growth at 1.7-2.2 percent, while the economy ministry had forecast an expansion of 1.4-1.8 percent.
Published on 2018-02-01

Russia Q3 GDP Growth Confirmed at 1.8%
Russia's gross domestic product grew by 1.8 percent year-on-year in the third quarter of 2017, unrevised from the preliminary estimate and following a 2.5 percent expansion reported in the previous period. Growth was mainly driven by agriculture and services such as transportation & storage, hotels & restaurants, information & communication, financial & insurance activities, and administrative & related additional services. On the other hand, mining output rose at a softer pace while manufacturing and construction contracted.
Published on 2017-12-12

Russia GDP Growth Slows to 1.8% in Q3
Russia's gross domestic product grew 1.8 percent year-on-year in the third quarter of 2017, easing from a near five-year high 2.5 percent expansion in the previous period, preliminary data showed. The Ministry of Economic Development had previously estimated GDP growth in the third quarter of 2017 at 2.2 percent.
Published on 2017-11-13

Russia Q2 GDP Growth Rate Confirmed at Near 5-Year High
Russia's gross domestic product advanced 2.5 percent year-on-year in the second quarter of 2017, unrevised from the preliminary estimate and following a 0.5 percent growth in the previous period, final figures showed. It was the strongest pace of expansion since the third quarter of 2012, as output grew firmly for wholesale and retail trade, mining, manufacturing and construction. In the first half of the year GDP rose 1.5 percent, compared with a 0.5 percent contraction in the same period of 2016.
Published on 2017-09-11

Russia Q2 GDP Growth at Near 5-Year High
Russia's gross domestic product advanced 2.5 percent year-on-year in the second quarter of 2017, following a 0.5 percent growth in the previous period, a preliminary estimate showed. It was the strongest pace of expansion since the third quarter of 2012.
Published on 2017-08-11

Russia GDP Growth Confirmed At 0.5% In Q1
The Russian economy advanced 0.5 percent year-on-year in the first three months of 2017, in line with preliminary estimates and following a 0.3 percent expansion in the previous quarter. A rebound in mining, manufacturing and trade and a jump in transportation boosted growth, final figures showed. The economy returned to growth after a two-year recession that was mainly caused by low oil prices and sanctions imposed on Russian individuals and businesses in response to the annexation of Crimea.
Published on 2017-06-16