Rosstat recorded economic growth after a recession in the first quarter – Kommersant
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Russia’s GDP in the second quarter of 2023 grew by 4.9% (year-on-year) after a decline of 1.8% in the first, follows from Rosstat data. This estimate turned out to be better than the calculations of the Ministry of Economy (4.6%) and the Central Bank’s estimate (4.8%).
The preliminary assessment is based on operational statistical reporting of large and medium-sized enterprises in the non-financial sector of the economy. The first estimate for the second quarter will be published on 8 September.
The sectors of passenger transportation (+19.8%), wholesale trade (+12.5%) and manufacturing (+11.3%) grew the most. Growth was also recorded in construction (+9.8%), retail trade (+9.0%), agriculture (+2.9%) and mining (+1.1%).
The Ministry of Economy estimated Russia’s GDP growth in the first half of the year at 1.4%, in the second quarter of the year – 4.6% after a decline of 1.8% in the first. The head of the department, Maxim Reshetnikova, said that the jump was the result of the crisis failure in the second quarter of 2022.
More details – in the material “Kommersant” “The economy is on a plateau”.
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