Russia's economic growth remains tepid as gross domestic product (GDP) growth slowed to 1% YoY in monthly, down from 1.8% in July, according to the economy ministry. From January to monthly, GDP rose 1.6% YoY, according to the ministry's August report, while a Reuters consensus forecast was for 1.6% growth in monthly. One of the few areas where the economy is growing is retail sales.
Russia's economic growth remains tepid as gross domestic product (GDP) growth slowed to 1% YoY in August, down from 1.8% in July, according to the economy ministry. From January to August, GDP rose 1.6% YoY, according to the ministry's monthly report, while a Reuters consensus forecast was for 1.6% growth in August. One of the few areas where the economy is growing is retail sales.