Russia's GDP Contraction Confirmed at -1.2% in Q1

Russian economy shrank 1.2 percent year-on-year in three months to March of 2016, following 3.8 percent drop in the previous period and in line with preliminary estimates, final figures showed. The country remained in recession for the fifth consecutive quarter, led by fall in manufacturing, construction, wholesale and retail trade while agriculture, mining and quarrying, financial and rental services advanced.
Federal State Statistics Service | Yekaterina Guchshina | 6/15/2016 2:27:18 PM
Manufacturing contracted 4.0 percent (-6.2 percent in Q4), wholesale and retail trade decreased 2.5 percent (-13.6 percent in Q3), construction fell 1.6 percent (-4.6 percent in Q4), public administration and military security declined 1.8 percent (-1.2 percent in Q4), and transport and communication fell 0.5 percent (-0.7 percent in Q4).

In contrast, real estate and renting services advanced 0.7 percent (+1.4 percent in Q4), mining and quarrying rose 2.1 percent (1.4 percent in Q4), agriculture production went up 0.7 percent (+5.6 percent) and financial activities increased 1.5 percent.