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Signs of recovery in the Russian construction market

فاقد چكيده

Despite a slowdown with respect to the period April-June (+2.5%), the positive performance of the third quarter of 2017 (GDP +1.8%) allowed the Russian economy to achieve the fourth consecutive quarter of growth following a prolonged recession caused by low oil prices and international sanctions. The economy has regained momentum with a surge in private consumption, which hit the highest growth rate since 2012 (+5.2% in Q3 compared to +4.4% in Q2). Robust household spending was fuelled by an improving labour market and the lowest levels of inflation since the fall of the Soviet unio‎n (2.5% in 2017 compared to 5.4% in 2016). Government consumption and fixed investments also grew, aided by lower interest rates.