Weekly Insight -- Industry growing again
In March, industrial production grew by 2.1% YoY after weak performance in the first 2M21. In addition, the growth of retail trade accelerated noticeably to 13.1% YoY. So, as we expected earlier, despite the tightening of quarantine restrictions, economic activity intensified significantly in March. As a result, we assess the rate of decline in GDP to remain at about 0.5% YoY in 1Q21, and we expect double-digit economic growth in 2Q21.
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