Russian economy was growing fast in July and August, boosted by exports growth and a rising investment and consumer demand.
Photo: Dmitry Dukhanin
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Russian GDP Outpaces Forecasts
Russia's GDP went up to 7.2 percent last month, the Economic Development and Trade Ministry reported. Domestic demand boosts economic growth which is likely to be dependent on people’s earnings and investment climate in Russia.
Russian economy was growing fast in July and August, boosted by exports growth and a rising investment and consumer demand, a report by the Economic Development and Trade Ministry says.
GDP climbed to 7.2 percent in July, which is 6.7 percent in January-August as compared to the same period last year. The Russian Economic Development Ministry was forecasting a 6.6 percent growth for this year. Apparently, the final result may high higher than predicted.
Industrial production rose 5.6 percent last month, according to the official data, which is close to independent estimates. The processing industry led in the upward trend, 6.2 percent up.
All hopes for a further rise are pinned on growing consumer demand and investments which added 12.6 percent in August. Experts hitch up the economic growth rates to incomes and investment climate in the country.
www.kommersant.com
All the Article in Russian as of Sep. 26, 2006
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