Russia’s economic performance seems to be losing steam according to the CEIC Leading Indicator. Preliminary data for January 2019 shows that the indicator decreased with 0.6 points to 100.7 (compared to December) and approached the threshold value of 100.
Russia was in expansion phase from January 2016 to May this year when it reached a peak value of 113, but has been declining steadily for the second half of 2018. An increase in manufacturing production tendency and automobile production was offset by a decline in influential components such as net trade and financial activity.
This development is in line with forecasts of lack lustre economic growth in 2019 – the International Monetary Fund assesses that real GDP will grow at 1.6% in 2019, while Focus Economics consensus forecast predicts 1.4% for the same period.
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