Category: Macro Monthly

Russia Macro Monthly January 2024

2023 growth beat expectations. This time last year the consensus was for a moderate contraction in the economy in 2023. The latest data suggests that the economy expanded by over 3% YoY.

Russia Macro Monthly December 2023

In 10M23, the Russian economy expanded by a solid 3.2% YoY, according to estimates from the Economy Ministry. That was well above even the most optimistic assessments and prompted the government to upgrade their growth forecast for 2023 to 3%+ levels.

Russia Macro Monthly November 2023

Growth indicators are currently positive. Statistical reports show that the economy is doing well with all its major segments posting robust YoY growth. But a slowdown is inevitable.

Russia Macro Monthly October 2023

According to estimates by the Ministry of Economy, Russia’s GDP expanded by 2.5% YoY in 8M23 and by 5.2% YoY in August 2023. The two key drivers of this recovery are rising output in the defense industry and strong domestic consumer demand.

Russia Macro Monthly September 2023

The latest statistics show a strong GDP bounce in 2Q23 which was accompanied by a solid rise in growth rates in all major sectors of the economy.

Russia Macro Monthly August 2023

The latest official data show a strong upswing in the growth trend. All major sectors of the economy – with one notable exception, the oil and gas industry – have demonstrated a solid recovery in 2Q in YoY terms.

Russia Macro Monthly June 2023

From purely a macro perspective the current state of the Russian economy looks very good. In the real economy industrial production, agricultural output, and construction volumes are on the rise.

Russia Macro Monthly May 2023

The latest data show visible improvements in many key macro indicators: industrial production, construction, and agricultural output are growing in YoY terms as well as the real incomes of the population.

Russia Macro Monthly April 2023

March and April should mark a watershed when a larger part of the Russian economy returns to growth. Although this will be primarily driven by a shift in the base factor, in certain instances positive drivers should also emerge because of the adaption to sanctions, as seen in the stabilization of economic output and demand, the logistical recovery, and the reorientation of trade.

Date range

Select Date