July 18, 2019 / 7:07 AM / 4 months ago

Russian economic growth picks up to 0.7% year-on-year in June

FILE PHOTO: A woman counts money at a food fair in the village of Ulyanovka, south-east of Stavropol, Russia December 22, 2015. REUTERS/Eduard Korniyenko/File Photo

Moscow (Reuters) - Gross domestic product growth in Russia accelerated to 0.7% in June in year-on-year terms after expanding by 0.1% in May, the Russian Economy Ministry said on Thursday.

In the second quarter of 2019, GDP grew 0.8% after growing by 0.5% in the first three months of the year.

The ministry said in a monthly report that GDP growth in June was boosted by a pick up in industrial output.

The ministry also said it lowered its initial GDP growth assessment for May to 0.1% from 0.2% reported earlier.

Reporting by Anna Rzhevkina; Editing by Andrey Ostroukh

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