Econ ministry says March GDP growth shrinks to 0.7% from 1.3% - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Econ ministry says March GDP growth shrinks to 0.7% from 1.3%

MOSCOW, Apr 19 (PRIME) -- Russias gross domestic product (GDP) grew 0.7% in March compared with 1.3% in February, the Economic Development Ministry said in a report late Wednesday.

The ministry also adjusted January GDP to 1.4%. JanuaryMarch growth was estimated at 1.1%.

Previously, the ministry cut its February GDP estimate to 1.3% from 1.5% and the January estimate to 1.7% from 1.9%.

The March slowing down as compared to JanuaryFebruary was firstly due to a 9.7% decline in construction on the year (contribution to GDP is estimated at minus 0.3 percentage points) after nearly zero dynamics in JanuaryFebruary, the ministry said.

Besides, our estimate shows that wholesale and retail trade also made a significant negative contribution in March (minus 0.2 percentage points), the ministry said.

End

19.04.2018 08:24
 
 
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