Russia Q3 GDP Growth Revised Higher to 1.5%


Russia's gross domestic product grew by 1.5 percent year-on-year in the third quarter of 2018, up from a preliminary estimate of 1.3 percent and following a 1.9 percent expansion reported in the previous three-month period.

Within the service sector, growth slowed for: accommodation & food service activities (5.6 percent vs 6.9 percent in Q2); transportation & storage (3.2 percent vs 3.9 percent); public administration & defence, compulsory social security (0.3 percent vs 2.8 percent); and information & communication (2.2 percent vs 3.3 percent). In addition, real estate activities continued to contract (-1 percent vs -1.5 percent) and culture, sports, leisure and entertainment output also fell (-0.5 percent vs 0.5 percent). On the other hand, output growth accelerated for financial & insurance activities (9.7 percent vs 8.6 percent); wholesale & retail trade (2.1 percent vs 1.9 percent); and administrative & support service activities (3.1 percent vs 1.8 percent).

Within industrial activity, manufacturing expansion slowed to 1.2 percent in the third quarter from 2.8 percent in the previous period. Meanwhile, mining & quarrying output growth accelerated (5 percent vs 2.6 percent); while a rebound was seen in both electricity, gas & steam, air conditioning (0.7 percent vs unchanged), and water supply, water disposal, organization of waste collection & disposal, pollution control activities (1.8 percent vs -2.2 percent). Construction output rose 1.6 percent, faster than 0.8 percent in the previous period.

Agriculture, forestry & fishing shrank by 5.7 percent in the three months to September, compared to a 0.3 percent advance in the second quarter.

Considering January to September 2018, the Russian economy grew 1.6 percent, slightly below 1.8 percent in the same period of 2017.

Russia Q3 GDP Growth Revised Higher to 1.5%


Federal State Statistics Service | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/12/2018 1:26:33 PM