GDP growth of Russia in may amounted to 0.4%

«In may 2017, according to estimates of the Ministry of economic development, GDP growth amounted to 3.1% year-on-year, while the index of the GDP, cleared of seasonality, increased by 0.4% month-to-month», — stated in the monitoring «Picture economy», published on the Ministry’s website.

The acceleration of GDP growth contributed significantly outpacing the income growth of freight turnover, which amounted in may in annual terms, at 9.5%, the wholesale trade turnover — by 7.7% and industrial production by 5.6%. The total contribution of these factors to GDP growth was more than 2.5 percentage points, said the Ministry.

For the first time since the beginning of the year showed positive dynamics construction growth at an annual rate of 3.8%, and the turnover of retail trade increased by 0.7% year-on-year.

The contribution to GDP of the non — tradable sectors, trade and construction, according to the Ministry of economic development, amounted to more than 0.5 percentage points.