Ministry: Russia’s GDP falls 0.9% in Jan–Jun, flat on year in June

MOSCOW, Jul 28 (PRIME) -- Russia’s gross domestic product fell 0.9% on the year in January–June, but remained almost flat on the year in June excluding seasonal factors, the Economic Development Ministry said Thursday in its monitoring report.

“The Economic Development Ministry’s estimates showed a 0.9% contraction of GDP in the first half of the year compared with a corresponding period of the previous year,” the ministry said.

But the GDP contraction excluding seasonality almost stopped in June after a 0.2% contraction in April and a 0.1% contraction in May. The major positive influence on GDP dynamics in the month were provided by the industrial production, transport and agriculture sectors, while the negative impact came from the construction and retail trade sectors, the ministry said.

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