Russian economy is going down

15 October 2018, 17:46 | Economy
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The country's economic performance has declined.. GDP growth slowed back in August. According to the Ministry of Economic Development, it decreased by 0.8% when compared with the previous month. Anabiosis, into which the Russian economy has fallen, naturally affected the GDP growth rate.

Imprinted "hibernation" also on shipping and investment in fixed assets, although just a couple of months ago there was an increase. Consumer demand slowed down, despite the positive dynamics in the labor market.

"Retail turnover in August continued to grow at a moderate pace. Also in recent months there has been a stabilization in the dynamics of sales of passenger cars, air travel, online purchases in foreign online stores - segments of the consumer market, which in 2017 - early 2018 showed active growth, "said the Ministry of Economy" report.

September 2018. The Russian economy has been “stuck” largely due to agriculture, the authors of the document emphasize.. "The sharp deterioration in its annual dynamics was primarily due to the high base of August last year, when a catch-up increase in the collection of main crops was observed due to a shift in the harvest calendar," the report explains.. Almost without movement spent August transport with industry. Metallurgy due to increased volatility in the market was a stumbling block.

Even the engineering and manufacturing industries could not smooth the corners.. Upward movement marked inflation. In annual terms, in the last summer month, it jumped from 3.1% to 3.4%. "An increase in consumer price growth (in monthly terms with the elimination of seasonality) was observed in all major commodity groups, with the exception of fruit and vegetable products," the agency notes, adding about a half-percent decline in the labor market relative to July figures.




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