The decline in GDP in February slowed down to 3.1% in annual terms
[ad_1]
The decline in GDP in February this year amounted to 3.1% in annual terms, follows from the assessment (.pdf) Ministry of Economic Development. In January, GDP decreased by 3.2%, in December 2022 – by 4.2%. According to the agency, in February, GDP remained at the level of January, taking into account the seasonal factor.
Inflation in February this year amounted to 11% (in January 11.8%). In annual terms, price growth slowed to 4.3%, the report says.
The growth of industrial production in February amounted to 0.2%, in annual terms, the decline in industrial production slowed down from -2.4% to -1.7%.
According to the estimates of the Ministry of Economic Development, the unemployment rate in February reached a historic low – 3.5% of the labor force (3.6% in January).
On March 23, the head of the Ministry of Economic Development, Maxim Reshetnikov, said that the department expects GDP growth this year to be higher than 0.1% or 0.2%. According to the official forecasts of the Ministry of Economic Development of September 2022, the GDP of the Russian Federation in 2023 will decrease by 0.8%, and in 2024 it will grow by 2.6%. The Bank of Russia expects the dynamics of GDP this year from -1% to +1%.
[ad_2]
Source link
