Russian economic growth slows to 1.5% y-o-y in July
[MOSCOW] Economic growth in Russia slowed in July compared with the previous month, the economy ministry said on Monday.
Gross domestic product (GDP) grew by 1.5 per cent year on year in July after expanding 2.9 per cent in June, the ministry said.
A worse performance in the agriculture sector, manufacturing and retail sales all weighed on GDP growth in July, the ministry said in a monthly report on the economy.
"July data should hardly be interpreted as a shift in the positive trend," the ministry said, adding that industrial production was likely to recover in August.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China moves to boost foreign investment in domestic tech companies
Xi orders China’s biggest military reorganisation since 2015
Warner Bros CEO earned US$49.7 million in strike-impacted year
Teheran signals no retaliation against Israel after drones attack Iran
India central bank cannot let its inflation guard down just yet, MPC minutes show
China’s Jan-March foreign investment inflows down 26%