Russia Economic Activity - 2Q19 Basic Sector Data Augurs Slight Improvement in GDP Growth
Basic sector output, which represents a large share of GDP, rose by 1.9% y-o-y in June after a 0.3% y-o-y contraction the previous month. This brought the 2Q19 figure up to 1.5% y-o-y growth, up from 0.9% y-o-y in 1Q19. Taking into account the positive dynamics of other indicators, such as corporate lending activity and budget expenditures, we expect GDP growth to have accelerated to 0.7-0.9% y-o-y in 2Q19, up from the 0.5% y-o-y registered in 1Q19. GDP growth should further improve in 2H19, as it will be supported by higher budget expenditures on the so-called "national projects."
Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.
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