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, preliminary data showed. That was the weakest growth rate since the last quarter of 2016.
GDP growth for the first quarter came in below the Ministry of Economic Development's early estimate of 0.8 percent. According to figures released last month, a slowdown had been expected for all major sectors: agriculture (1.1 percent vs 4.1 percent in Q4); construction (0.2 percent vs 4.1 percent); retail trade (1.8 percent vs 2.8 percent); freight turnover of transport (2.1 percent vs 2.3 percent); and industry (2.1 percent vs 2.7 percent).
The Federal State Statistics Service did not provide any further details on the revised figure.
5/17/2019 1:24:02 PM