Economics
Post-Recession Bounce Hides Old Trick for Russia's Economy
- Economy expanded 2.5 percent, its third quarter of growth
- Consumer demand emerging as key growth driver after recession
Customers browse products for sale in a discounted food aisle at an Auchan Holding SA city supermarket, operated by Groupe Auchan SA, in Moscow, Russia, on Aug. 1, 2017.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russia’s economy expanded at the fastest pace in more than three years after exiting its longest recession this century, and analysts say the most likely driver is an old one -- consumer demand.
Gross domestic product grew 2.5 percent last quarter from a year ago, the Federal Statistics Service said Friday, citing preliminary estimates. That outstrips the 1.7 percent growth forecast by economists, according to a Bloomberg survey. The Economy Ministry estimated output increased 2.7 percent in the period.