Official: Russia’s GDP falls 0.5% on year in October

ST. PETERSBURG, Nov 18 (PRIME) -- Russia’s gross domestic product (GDP) contracted by 0.5% on the year in October, while the seasonally adjusted indicator remained flat on the month, Kirill Tremasov, director of Economic Development Ministry’s macroeconomic forecast department, said on Friday quoting preliminary estimates of the ministry.

“Our preliminary estimates showed that the GDP fell 0.5% year-on-year in October,” he said at a forum.

He added that contraction amounted to 0.4% in July–September.

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