Russian Economy Stalls in Q3

The Russian GPD posted zero growth in the three months to September, following a revised 0.14 percent expansion in the previous period, as a rise in internal trade and real estate activities was not enough to offset a drop in manufacturing.

On a quarter-on-quarter seasonally adjusted basis, fishing and farming activities shrank the most by 3.5 percent, followed by restaurants and hotels (-1.63 percent), health and social services (-0.88 percent) and construction (-0.8 percent). Manufacturing contracted 0.44 percent and the mining sector dropped 0.51 percent.

In contrast, financial activities posted the highest gain (3.26 percent), followed by agriculture (1.41 percent), internal trade (0.69 percent) and real estate (0.63 percent). Transportation grew 0.13 percent. 

Year-on-year, the economy advanced 0.7 percent, slowing for the third straight quarter.

Russian Economy Stalls in Q3

Joana Taborda |
12/12/2014 1:49:39 PM