Russia Q2 GDP Growth Confirmed at 0.9%

Russia’s annual economic growth was confirmed at 0.9 percent in the second quarter of 2019, accelerating from an over two-year low of 0.5 percent in the previous period.
Federal State Statistics Service | Joana Ferreira | 9/9/2019 2:55:51 PM
Within the service sector, there was a rebound in real estate activities (1.3 percent vs -3.5 percent) and public administration & defence (0.2 percent vs -0.1 percent), while financial & insurance activities growth accelerated (7.9 percent vs 7.6 percent). Meanwhile, output rose at a softer pace for: transportation & storage (2.9 percent vs 3.1 percent); hotels & catering (0.2 percent vs 4.8 percent); health and human services (1.7 percent vs 2.3 percent); and leisure and entertainment (1.4 percent vs 3.7 percent).

A contraction was seen in wholesale & retail trade (-0.6 percent vs -3.0 percent); information & communication (-2.0 percent vs 1.2 percent); professional, scientific and technical activities (-0.4 percent vs 0.4 percent); administrative & support service activities (-0.5 percent vs -2.8 percent); and education (-0.4 percent vs -0.2 percent).

Within industrial activity, electricity, gas & steam, air conditioning output rebounded firmly (2.3 percent vs -1.0 percent) and water supply, water disposal, organization of waste collection & disposal, pollution control activities advanced faster (2.1 percent vs 0.1 percent). Meanwhile, manufacturing growth was unchanged at 0.6 percent, while mining output increased at a softer rate (3.0 percent vs 4.6 percent).

Construction output was flat for the second consecutive period.

Agriculture, forestry & fishing edged up 0.1 percent, compared to a contraction of 1.2 percent in the last quarter.

Russia Q2 GDP Growth Confirmed at 0.9%