UPDATE: Russia’s November GDP rises 0.1% excluding seasonality

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MOSCOW, Dec 9 (PRIME) -- Russia’s gross domestic product (GDP) grew by 0.1% in November excluding seasonal factors, Economic Development Minister Alexei Ulyukayev said Wednesday.

“In September–October -- our GDP cleared from seasonality grew 0.2% in September, 0.1% in October and about 0.1% in November,” he said.

GDP may fall 3.5% in October–December, slightly contract in January–March 2016, but will reach a steady quarterly growth from April–June 2016, he said. “(A growth of) 0.7% will take place in the second quarter. We also forecast GDP growth of 0.7% for the whole 2016,” he said.

The ministry projects GDP contraction of 3.9% in 2015 and a growth of 0.7% in 2016.

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