The Central Bank has adjusted the estimate of GDP growth in 2017

© RIA Novosti / Natalia to Seliverstova in photobacteria the Central Bank of Russia on Neglinnaya street in Moscow. Archival photoThe Central Bank has adjusted the estimate of GDP growth in 2017© RIA Novosti / Natalia to Seliverstova the image Bank

The Bank of Russia adjusted the estimate of GDP growth in 2017 to 1.8% from 1.5% from a revised Rosstat data on industrial production, to the regulator’s report on monetary policy.

«Data (GDP growth — ed.) for 2017 — 1,8% — Bank of Russia subject to revision by Rosstat data on industrial production,» — noted in the document.

In a previous report, the assessment of Russian economic growth was at 1.5%.

In June, Rosstat reported that increased the estimate of the growth rate of industrial production in Russia in 2017 year to 2.1% from previous estimate of 1%. Also, the Agency revised the monthly and quarterly figures of last year. Industry growth for the first quarter of 2017, according to new data, stood at 2.9% instead of 0.1% for the second quarter and 4.5% instead of 3.8%, for the third quarter and 2.5% instead of 1.4%. However, the assessment for the fourth quarter remained unchanged during this period, Rosstat continues to note a decline of 1.7%.

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