Russia GDP Growth Confirmed at 0.7% in Q3

The Russian economy advanced 0.7 percent year-on-year in the third quarter of 2014, matching preliminary estimates from the Federal Statistics Office. Growth was mainly driven by the manufacturing and transport sectors.

Year-on-year, the agriculture sector recorded the highest increase (7.5 percent), followed by financial activities (5.6 percent), manufacturing (1.3 percent) and transport and communication (0.5 percent).

In contrast, the mining sector shrank 0.5 percent, construction dropped 0.9 percent, internal trade fell 0.7 percent and activities in hotels and restaurants contracted 3.8 percent.

From January to September 2014, the economy advanced 0.8 percent, compared with a 1.1 percent expansion a year earlier. The central bank estimates the economy to grow 0.6 percent in 2014.

Russia GDP Growth Confirmed at 0.7% in Q3

Joana Taborda |
12/11/2014 2:15:22 PM