Cbank sees Russian seasonally adjusted GDP rising 0.4% in Jan–Mar

MOSCOW, Feb 10 (PRIME) -- Russia’s seasonally adjusted gross domestic product (GDP) may increase 0.4% in January–March and 0.5–0.6% in April–June, the forecast department of the central bank said in a statement on Friday.

“The estimates for the two closest quarters encompass preservation and improvement of positive GDP dynamics. The estimate for the first quarter of 2017 is 0.4%, and for the second quarter it is 0.5–0.6% after elimination of seasonality,” the statement read.

The estimate was based on a forecast of an average Urals oil price of about U.S. $48 per barrel in the period.

In December 2016, the regulator’s forecast department expected the GDP of Russia to rise 0.2% in January–March and 0.4% in April–June.

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