Russia Macro Monthly December 2018

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Optimistic EconMin. The Economy Ministry added more detail to its
optimistic view of the economy in the 2025 to 2036 period. It expects
average GDP growth of 3.0% in the period. But, realistically, this is
unlikely without major reforms. So far, these are stalled.

Economy a little less gloomy. The leading indicator of economic
activity showed growth of 2.5% in October, a strong improvement on
previous months. The PMI manufacturing index also jumped sharply,
so the softness of August and September may be temporary.