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. The Russian central bank has been pumping money into the economy, but it is not clear whether that will be enough to prevent inflation rising further.
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.