Russia's gross domestic product increased 0.7 percent from a year earlier in June 2019 , following a downwardly revised 0.1 percent growth in the previous month, supported by industrial production (3.3 percent vs 0.9 percent in May), agriculture (1.1 percent vs 1.0 percent), and retail trade (1.4 percent, the same as in May). Meanwhile, output growth slowed for both freight turnover (0.3 percent vs 0.9 percent) and construction (0.1 percent vs 0.2 percent). Considering the second quarter as a whole, GDP grew 0.8 percent, compared to a 0.5 percent expansion in the first quarter, preliminary estimates from the Russian Economy Ministry showed. Leading Economic Index in Russia averaged 1.91 percent from 2005 until 2019, 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 1.60 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 1.80 in 12 months time. In the long-term, the Russia GDP YoY is projected to trend around 2.30 percent in 2020, according to our econometric models.