May’s Economic & Social Indicators report suggests that a pick-up in consumer spending and investment is offsetting a slowdown in industrial production, leaving the Russian economy on track to expand by 4.5% y/y or so in Q2. But while this seems solid enough, it is actually fairly disappointing given both the depth of the recession in 2008-09 and the extent of the recent boost from higher oil prices.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.