Russian GDP grew by just 0.6 % last year

BOFIT Viikkokatsaus / BOFIT Weekly Review 2015/06

2014 saw a marked slowdown in the pace of economic growth last year from 1.3 % in 2013. Private consumer spending was the main factor supporting growth, but also the contraction in imports boosted the growth contribution of net exports.

Private consumption increased more slowly than in 2013 with a growth rate of 1.9 %. Real disposable income of households shrank last year for the first time since 1999, falling by about 1 %. Fixed capital investment also contracted last year by 2.5 %. In 2013, investment still managed to post meagre positive growth.

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