Russian Fourth-Quarter Growth Unexpectedly Quickens on Exports - Bloomberg:
"Russia’s economic expansion unexpectedly accelerated in the fourth quarter, driven by exports, before tension over Ukraine escalated, prompting the U.S. and its allies to impose sanctions against the country.
Gross domestic product advanced 2 percent in October-December from the same period a year earlier, compared with a revised 1.3 percent in the third quarter, the Federal Statistics Service in Moscow said in an e-mail today. The median estimate of 8 economists in Bloomberg survey was 1.3 percent.
“There shouldn’t be much optimism as export dynamics may slow down, and the only hope will be that weak domestic demand will still be compensated by weak imports,” Dmitry Polevoy, chief economist for Russia and the Commonwealth of Independent States at ING Groep NV (INGA) in Moscow, said in an e-mail."
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