Аннотация:We propose a composite indicator of social and economic development alternative to GDP. It
is based on the means of generalized modified principal component analysis (GMPCA)
applied to temporal structure of various indicators of national social and economic activities.
The weights of subindices that reflect various aspects macroeconomic pattern and constitute
the aggregate indicator are generated in an automatic mode by GMPCA. This approach
doesn’t require any expert assessments, so it is a kind of objective estimation the determinants
of social and economic development. The proposed methodology is applied to evaluation of
the overall performance of Russian economy using global competitiveness indicators for the
period from 2007 to 2017. It allows to reveal the factors which affect macrodynamics and
consolidate them into the groups with positive or negative impact. The obtained composite
indicator reveals cyclical fluctuations along the trend of economic development. The
decomposition of the aggregate indicator shows the structural shifts in the Russian
macroeconomic performance in the past decade.