September 20, 2018 / 6:04 AM / 8 months ago

Russia GDP growth slows to 1.0 pct y/y in Aug, below f'cast

MOSCOW, Sept 20 (Reuters) - Russia’s economic growth slowed to 1.0 percent in August from a year earlier, slowing from 1.8 percent in July, the economy ministry said on Thursday.

A Reuters consensus forecast was for 1.6 percent growth in gross domestic product (GDP) in August.

GDP grew by 1.6 percent in the first eight months of the year from the year earlier period, the ministry said in a monthly report.

The data confirms analysts’ concerns that an economic recovery in Russia is still tepid. Rising retail sales are one of the few evident growth drivers, while other indicators look worrisome.

Reporting by Andrey Ostroukh; Editing by Kim Coghill

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