MOSCOW, Sept 20 (Reuters) - Russia’s economic growth slowed to 1.0 percent in August from a year earlier, slowing from 1.8 percent in July, the economy ministry said on Thursday. A Reuters consensus forecast was for 1.6 percent growth in gross domestic product (GDP) in August. GDP grew by 1.6 percent in the first eight months of the year from the year earlier period, the ministry said in a monthly report. The data confirms analysts’ concerns that an economic recovery in Russia is still tepid. Rising retail sales are one of the few evident growth drivers, while other indicators look worrisome. Reporting by Andrey Ostroukh; Editing by Kim Coghill
Russia's economic growth remains tepid as gross domestic product (GDP) growth slowed to 1.6% YoY in August, down from 1.8% in July, according to the economy ministry. From January to August, GDP rose 1% YoY, according to the ministry's monthly report, while a Reuters consensus forecast was for 1% growth in August. One of the few areas where the economy is growing is retail sales.