Russian GDP Contraction Confirmed at 4.6% in Q2

Russian GDP shrank 4.6 percent year-on-year in the second quarter of 2015, in line with the preliminary estimates. It is the worst figure since the third quarter of 2009.

Manufacturing contracted 4.8 percent, mining fell 0.1 percent and construction 6.9 percent. Among services, wholesale and retail trade decreased 9.9 percent, real estate activities went down 5.7 percent, transport and communication decreased 4.1 percent and financial activities fell 5.2 percent. 

Year-on-year, only agriculture, hunting and forestry (up 2.1 percent), public administration and military security (up 1.2 percent) and utilities (up 1.0 percent) increased. 

On a quarter-on-quarter seasonally adjusted basis, the economy contracted for the fourth consecutive period by 2.0 percent, from upwardly revised 1.57 percent drop.

The Economy Minister revised 2015 growth forecast to -3.3 percent from -2.8 percent.

Russian GDP Contraction Confirmed at 4.6% in Q2

Yekaterina |
9/29/2015 3:16:05 PM