MOSCOW: Russia’s GDP decline by 0.6% in 2016, according to the preliminary assessment contained in the weekly monitoring of the Economic Development Ministry.
In December 2016, GDP (net of seasonal factor) declined by 0.5% month-on-month and by 1% year-on-year, according to the Ministry. Despite the overall negative dynamics, in December, industrial sector grew by 0.4% in comparison with November 2016. Retail trade made a negative contribution to GDP (a 1% decline in comparison with November). Agriculture and construction sector declined by 0.2% and 0.4% month-on-month respectively.
