Russia’s economy appeared to stabilise in Q3 as the 4% y/y contraction in GDP reported by Rosstat today is consistent with output rising marginally in seasonally-adjusted q/q terms. That said, there’s little sign in the latest monthly data of a sustained recovery taking hold and we think the downturn may yet deepen in Q4 and Q1 as the recent mobilisation of reservists and the EU oil embargo take their toll.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.