Russia's Q3 GDP growth picks up to 1.7% y/y

Credit: REUTERS/EDUARD KORNIYENKO

Russia's economic growth picked up to 1.7% in the third quarter of 2019 in year-on-year terms from 0.9% in the second quarter, the Federal Statistics Service said on Wednesday, citing preliminary data.

MOSCOW, Nov 13 (Reuters) - Russia's economic growth picked up to 1.7% in the third quarter of 2019 in year-on-year terms from 0.9% in the second quarter, the Federal Statistics Service said on Wednesday, citing preliminary data.

The head of Rosstat, Pavel Malkov, said an increase in wholesale trade turnover, in particular the gas trade, was one of the key factors behind stronger economic growth in the third quarter.

The Russian central bank said in late July it expected gross domestic product to grow at 0.8%-1.3% in the third quarter.

(Reporting by Gabrielle Tétrault-Farber; Writing by Alexander Marrow; editing by Andrey Ostroukh)

((alexander.marrow@thomsonreuters.com; +7 495 775 1242;))

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