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Russia GDP growth in July slows down to 1.5 percent

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Staff Writer | August 29, 2017
Russia's economic growth slowed down in July compared with the previous month, the Russian Economic Development Ministry said.
Russia GDP growth
Russian economy   Weaker dynamics of agriculture, industry and trade
The country's gross domestic product (GDP) grew by 1.5 percent year-on-year in July after registering a 2.9-percent growth in June, which is due to weaker performances in several fields, the ministry said in a report.

"Weaker dynamics of agriculture, industry and trade, which was partly offset by growth in construction, contributed to the slowdown in growth compared with the April-June period," the report said.

The worsening of the annual dynamics was most pronounced in the manufacturing industry, it added.

Meanwhile, the ministry said the July data should not be interpreted as a change in the positive trend of the economy on the whole.