Russia Macro Monthly September 2016


GDP ticks down in July. July’s 0.1% MoM decline in GDP somewhat tempered the optimism which followed June’s 0.1% YoY growth. GDP for the first seven months was down 0.9% YoY. Industrial output was down 0.3% year‐on‐year, after rising 1.7% year‐on‐year in June.