Russia GDP Expands 1st Time In 2 Years In Q4
The Russian economy advanced 0.3 percent in the fourth quarter of 2016, following 0.4 percent contraction in the previous period. It was the first expansion since the fourth quarter of 2014. Net external demand contributed positively, as exports rose by 3.7 percent (4.2 percent in Q3) and imports edged up 0.3 percent (-3.5 percent in Q3). Also, household spending (-3.2 percent from -4.8 percent in Q3) and investments (-0.3 percent from -0.8 percent) contracted at a slower pace. Meanwhile, government consumption fell 0.5 percent, at the same pace as in the previous period. In 2016, the GDP shrank 0.2 percent.
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On the production side,the growth was recorded for: real estate and renting services advanced (1.2 percent from 0.7 percent in Q3); transport and communication (1.2 percent from 0.3 percent); financial activity (1.7 percent from -1.9 percent); agriculture production (3.2 percent from 5 percent) and production and distribution of electricity, gas and water (5.5 percent from 2.9 percent).
Output fell less for wholesale and retail trade (-0.6 percent from -4.8 percent in Q3); construction (-1.9 percent -3.5 percent) and health (-1.7 percent from -2 percent).
In contrast, manufacturing contracted 0.6 percent (1.3 percent in Q3) and mining and quarrying edged down 0.1 percent (0.1 percent in Q3).