Russia's economy rebounds with 1.3% Q2 GDP growth

Rosstat announced that the economy has returned to growth following Putin's demand to stop the decline. Starting the year with a contraction, the first since 2023, the Russian economy returned to growth in the second quarter, Rosstat announced on Wednesday.

Consensus

Russia's GDP grew by 1.3% in the second quarter of 2026 compared to the same period in 2025.
The first quarter of 2026 saw a 0.2% decline in GDP.
The overall growth for the first half of 2026 was 0.6%.
The recovery was attributed to consumer spending, budgetary stimulus, and positive dynamics in several real-sector industries.
The data was released by Rosstat on August 12, 2026.
The growth exceeded forecasts from the Central Bank of Russia (0.8%) and the Ministry of Economic Development (0.9%).
Vladimir Putin expressed concern over the economic downturn in early 2026 and called for measures to restore growth.

Points of divergence

The recovery was primarily due to high oil prices and increased global demand for Russian raw materials, especially after the closure of the Strait of Hormuz. — tg_dwglavnoe
The economic recovery was a surprise even to officials, and the second-quarter surge is unlikely to become a long-term trend. — tg_moscowtimes_ru
The growth occurred despite drone attacks on oil refineries and Wildberries, and the Central Bank's key interest rate remained at 14%. — meduza
The increase in working days in the second quarter (3 more than in 2025) contributed to the growth. — interfax
The growth was driven by the use of accumulated resources from deposits held by households and enterprises. — vedomosti
Putin cited terrorist attacks on industrial and infrastructure facilities as a factor affecting economic growth, though he stated they did not have critical consequences. — kommerzant
The Kremlin stated that macroeconomic stability is ensured, the situation is predictable, and there is sufficient resilience. — m24

Coverage (17 sources)

Putin called the dynamics of the Russian economy 'modest but positive' — Коммерсантъ
Putin stated that GDP growth in 2026 is at about 1% — Вести
In the Central Bank clarify the limits of sustainable growth of the Russian economy — Коммерсантъ
Government of Russia reported on stable situation in labor market — Коммерсантъ
Russian economy returned to growth despite strikes at refineries and Wildberries. Oil prices helped — DW Главное
Reshetnikov: GDP grew by 1.3% in the first half of 2026 — Ведомости
In the Ministry of Economic Development, reasons for GDP growth were named — Вести
Economist forecasts Russian GDP growth by end of year — Вести
In the Central Statistical Administration, reasons for the growth of GDP in Russia were named — Вести
Rosstat declares economy returned to growth after Putin's demand to stop decline — The Moscow Times
GDP of Russia increased by 1.3% by the end of the second quarter — Коммерсантъ
Rosstat preliminarily estimated GDP growth in QII at 1.3% — Вести
Russia's GDP grew by 1.3% in the second quarter — Ведомости
Russia's economy grew by 1.3% in the second quarter — after a failure in the first — Meduza
Rosstat preliminarily estimated GDP growth in the second quarter of the year at the level of 1.3% — Коммерсантъ
Rosstat assessed growth of Russian Federation GDP in Q2 at 1.3%, for H1 – 0.6% — Интерфакс
Russia's GDP grew by 1.3% in Q2 2026 — Москва 24

Russia's economy rebounds with 1.3% Q2 GDP growth

Consensus

Points of divergence

Coverage (17 sources)

Key entities

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