Support The Moscow Times!

GDP Estimate Raised

Russia's economy grew at the fastest pace in more than a year in the third quarter as agricultural output, construction and retail sales surged.

Gross domestic product expanded 4.8 percent in the July-September period from a year earlier, the fastest pace since the second quarter of 2010, after increasing 3.4 percent in the previous three months, the State Statistics Service said Monday.

Agricultural output jumped 14.6 percent from last year when the worst drought in half a century ravaged Russia's harvest. Construction rose 6.9 percent in the third-quarter from the same period of 2010 after a 0.1 percent rise in the second quarter. Retail sales jumped 5.4 percent after a 2.3 percent rise.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.