VEB: Russia’s seasonally adjusted GDP falls 0.1% on month in Sep

MOSCOW, Oct 23 (PRIME) -- Russia’s gross domestic product (GDP) adjusted for seasonal and calendar factors fell 0.1% on the month in September, state-owned Vnesheconombank (VEB) said in a report Monday.

“September data showed a reduction of economic activity. Compared with last month, seasonally adjusted GDP fell by 0.1% compared with growth of 0.6% in August 2017. Compared with the corresponding period of last year, GDP growth pace slowed to 2% from 2.4% in August of this year,” VEB said.

Lower economic activity was caused by a reduction in mineral sources production, processing enterprises, production of electric power, gas and water, construction, transport, wholesale and retail sales, and net taxes.

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