Russia's gross domestic product grew by 2.5 percent from a year earlier in October 2018, following an expansion of 1.1 percent in the previous month and easily beating market expectations of 1.5 percent. Growth was mainly driven by higher output in agriculture and industrial sectors. Leading Economic Index in Russia averaged 1.96 percent from 2005 until 2018, reaching an all time high of 9.90 percent in February of 2008 and a record low of -11.80 percent in May of 2009.
Leading Economic Index in Russia is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Leading Economic Index in Russia to stand at 1.20 in 12 months time. In the long-term, the Russia GDP YoY is projected to trend around 1.60 percent in 2020, according to our econometric models.
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