Gross domestic product (GDP) only grew by 1.4% in the first quarter of 2025 – a notable decline from 4.5% growth in the previous quarter and 5.4% in the same period last year, the Moscow Times reported, citing Rosstat data.

The latest data from Rosstat came in below expectations: the Russian Economic Development Ministry estimated GDP growth at 1.7% and Bloomberg analysts predicted 1.8% growth.

you are viewing a single comment's thread
view the rest of the comments

[–] cosmicrookie@lemmy.world 1 points 1 month ago (1 children)

Does growth not account for this though? In my mind, spending saved up money or borrowing from others, does not represent economic growth

[–] Carrolade@lemmy.world 9 points 1 month ago (1 children)

GDP is basically a measure of how much work is getting done. So, if you save your money, you're not contributing to it. The moment you spend some, that spent money goes into the calculation.

Whether this constitutes any kind of real "growth" or not in your economy is a different topic. There are already debates on how useful GDP is as a useable measurement.

[–] InvertedParallax@lemm.ee 1 points 1 month ago

Keynes's digging holes, IRL.