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August industrial growth points out to more than 2% GDP hike — economy minister

The Russian Economic Development Ministry is now waiting for data about the retail trade and other indices growth

KALININGRAD, September 15. /TASS/. The hike in Russia's industrial output registered in August demonstrates that the country’s GDP growth exceeds 2%, Russian Economic Development Minister Maksim Oreshkin told Tass on Friday.

Shortly ago in the day, the Russian State Statistics Service (Rosstat) said in its report that the country's industrial output increased by 1.9% in January-August 2017, as compared to the same period of 2016, while the August industrial production went up by 1.5%, as compared to the same month of the previous year.

"All in all, we hope that the GDP growth will again exceed 2%. With this in mind, we should receive data about the retail trade and other indices growth. They will be published next week. This will allow us to give more exact forecast, including about GDP and industrial growth," Oreshkin said.