Russia GDP Growth Slows to 1.3% in Q3


Russia's gross domestic product grew by 1.3 percent year-on-year in the third quarter of 2018, following a 1.9 percent expansion reported in the previous period, a preliminary estimate showed. Retail trade, cargo turnover and industrial production grew at a slower pace while agriculture and construction output contracted.

According to preliminary data from the Ministry of Economic Development, retail trade growth eased to 2.6 percent in Q3 from 2.9 percent in the previous period and freight turnover of transport expanded at a softer 2.9 percent, compared to 3.4 percent. In addition, industrial production increased by 2.9 percent, also slower than a 3.2 percent advance recorded in the previous quarter due to a slowdown in manufacturing (2.2 percent vs 4.3 percent). Utilities continued to grow at the same pace (0.5 percent) while an acceleration was seen in both mining (4.9 percent vs 2.2 percent) and water supply (4.1 percent vs -1.9 percent).

On the other hand, agriculture contracted 6.1 percent in the third quarter (vs 1.9 percent in Q2) and construction shrank 0.4 percent (vs 0.9 percent in Q2).

Russia GDP Growth Slows to 1.3% in Q3


Ministry of Economic Development | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/13/2018 1:39:59 PM