The high growth in the second quarter

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In the light of fully-released April, May and partly released June leading indicators, our estimate for the year-on-year GDP growth is 6.5 percent in the second quarter of 2018. Accordingly, seasonally and calendar day adjusted quarter-on-quarter growth rate is expected to be 1.1 percent in the second quarter of 2018 compared to previous quarter. We revised our estimate for year-on-year growth rate up by 0.5 percent points. The reason behind this surprising revision is higher-than-expected production in consumption and intermediate goods.

pdf. EconomicGrowthForecasts2017M07