The improving economic situation in Russia: reality or creative statistics

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Series Details No.240 (05.05.17)
Publication Date 05/05/2017
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The indicators published in recent months by the Russian Statistics Office (Rosstat) are much more optimistic than the estimates and forecasts announced several months earlier. A significant improvement in statistical data is evident in particular regarding the figures for GDP and industrial production.

According to new information, over the last two years (2015-2016) the Russian economy shrank by 3%, and not by 4.5% as previously estimated. Moreover, data compiled by Rosstat show an increase in industrial production was registered, even in the face of a decline in citizens’ income and fixed investment. In addition, the slowdown in the industrial sector was found to have ended at the beginning of 2016 and not at the end of 2016 as previously reported.

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Related Links
The New York Times, 24.11.17: Russia Is Returning to Growth. (Just in Time for an Election)
The Conversation, 16.03.18: Some easy fixes for Russia’s flagging economy – if only politics didn’t get in the way
World Bank: Russian Federation: Russia Economic Report
The Guardian, 05.07.18: Russia's future looks bleak without economic and political reform

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