Russian GDP Contraction Confirmed at 4.1% in Q3


Russian economy shrank 4.1 percent year-on-year in the third quarter of 2015, in line with the preliminary estimates, following a 4.3 percent drop in the previous period, final figures showed.

Manufacturing contracted 4.3 percent (-4.8 percent in Q2) and construction fell 8 percent (-6.9 percent in Q2). Among services, wholesale and retail trade decreased 9.1 percent (-9.9 percent in Q2), real estate activities went down 8.5 percent (-5.7 percent in Q2), transport and communication decreased 0.9 percent (-4.1 percent in Q2) and financial activities fell 1.5 percent (-5.2 percent in Q2). Meanwhile, public administration and military security fell 0.4 percent (+1.2 percent in Q2) and utilities 1.9 percent (+1.0 percent).

Year-on-year, only agriculture, hunting and forestry (+2.1 percent from +2.1 percent in Q2) and mining (+0.8 percent against -0.1 percent in Q2) increased. 

On a quarter-on-quarter seasonally adjusted basis, the economy contracted for the fifth consecutive period by 0.57 percent, from upwardly revised 1.3 percent drop.

Russian GDP Contraction Confirmed at 4.1% in Q3


Yekaterina Guchshina | yekaterina@tradingeconomics.com
12/10/2015 1:33:50 PM