Russia's gross domestic product growth eased to 0.6 percent year-on-year in March 2019 from a downwardly revised 1.4 percent in the previous month. It was the weakest pace of expansion since a contraction was recorded in November 2017, as output increased at a slower pace for industrial output (1.2 percent vs 4.1 percent in February), construction activity (0.2 percent vs 0.3 percent), and retail trade (1.6 percent vs 2 percent in February). Considering the first quarter as a whole, the economy grew 0.8 percent, preliminary estimates from the Ministry of Economy showed. Leading Economic Index in Russia averaged 1.95 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 1.50 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 1.60 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.