Russia's gross domestic product grew by 2.7 percent year-on-year in the fourth quarter of 2018, following an upwardly revised 2.2 percent expansion reported in the previous three-month period.
Within the service sector, growth accelerated for: information & communication (2.7 percent vs 1.3 percent in Q3); financial & insurance activities (7.9 percent vs 7 percent); real estate activities (0.3 percent vs 0.2 percent); and administrative & support service activities (2.9 percent vs 2.4 percent). Meanwhile, the rate of expansion was unchanged for wholesale & retail trade (at 2.2 percent), transportation & storage (at 3.2 percent) and public administration & defense (at 3.3 percent); while it slowed for accommodation & food service activities (4.4 percent vs 8.1 percent), culture, sports, leisure and entertainment output (0.6 percent vs 0.8 percent), and professional, scientific and technical activities (0.1 percent vs 1.6 percent).
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Within industrial activity, mining output grew the most (7.7 percent vs 4.7 percent), followed by water supply, water disposal, organization of waste collection & disposal, pollution control activities (6.5 percent vs 4.3 percent) and electricity, gas & steam, air conditioning (1.2 percent vs 1 percent). Meanwhile, manufacturing growth slowed sharply to 0.2 percent from 1.3 percent in Q3, and construction output rose at a slower 4.9 percent, compared to 6.6 percent in the previous period.
Agriculture, forestry & fishing surged 2.3 percent in the three months to December, recovering from a 4.8 percent contraction in the third quarter.
Considering 2018 full year, the Russian economy grew 2.3 percent, the strongest pace of expansion in six years.