Russia's Real Sector of the Economy in January-April 2016: Major Factors and Trends

According to preliminary data released by Rosstat, in Q1 2016, Russia’s GDP constituted 98.8% (97.2% a year earlier) against the corresponding period of the previous year. Downward trend in domestic consumption persists although the slump is losing its grip on the economy. Growth in agriculture and the extraction sectors remains unchanged. The chemical industry posts very high dynamics in the manufacturing sector. A low investment demand amid simultaneous contraction of consumer demand on engineering products hampers potential of its growth. The level of general unemployment in April 2016 came to 5.9% of economically active population with 5.6% at end of 2015. The burden of jobless on available vacancies is growing in the wake of gradual growth rates of unemployment.