June 29, 2017 / 11:01 AM / 5 months ago

Russia c.bank sees GDP up 1.3-1.8 pct y/y in Q3

MOSCOW, June 29 (Reuters) - The Russian economy is expected to grow by 1.3-1.8 percent year on year in the third quarter of 2017 thanks to recovering consumer demand, the central bank said on Thursday.

In the second quarter, gross domestic product is expected to grow by up to 1.3 percent thanks to a quicker-than-expected recovery in industrial output, the central bank said in a regular report on the economy.

Economic growth will also be accompanied by increasing investment activity. Capital investment, the second most important economic driver after consumer demand, was seen growing by 3-5 percent on the year in the second quarter after rising by 2.3 percent in the first quarter, the central bank said. (Reporting by Elena Fabrichnaya; Writing by Andrey Ostroukh; Editing by Alexander Winning)

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