Russia Q3 GDP Growth Beats Forecasts
Russia's gross domestic product grew by 1.7 percent year-on-year in the third quarter of 2019, following a 0.9 percent expansion in the previous period and beating market expectations of 1.6 percent, preliminary data showed.
11/13/2019 1:58:52 PM
GDP growth for the third quarter came in below the Ministry of Economic Development's early estimate of 1.9 percent.
The Federal State Statistics Service said that the GDP was mainly supported by agriculture (5.1 percent), industry, including mining (2.9 percent), as well as wholesale trade. The total passenger turnover due to state support of regional air transportation increased by 6.2 percent, while there was a 0.6 percent decline in cargo turnover during transportation.
The economy grew by 1.1 percent in the first nine months of 2019. The ministry had forecast 2019 GDP growth of 1.3 percent, a slowdown from the 2.3 percent seen in 2018.