Russia sustains 6.4% GDP growth in April - VTB Europe
MOSCOW. May 7 (Interfax) - Russian GDP growth in April equaled the
average 6.4% growth seen in the first three months of 2008, indicating
that economic growth is being sustained in general and that the recent
tendency for growth rates to slacken is at an end, VTB Bank Europe said
in a research note.
Even so, the 6.4% average growth for the quarter is the lowest for
two-and-a-half years and remains lower than official results.
The GDP Indicator is derived from VTB Bank Europe's PMI surveys of
business conditions in the manufacturing and service sectors of Russia.
By weighting together the output measures from these surveys, an
indicator of total output is produced.
The Total Activity Index fell to 57.9 in April from its 14-month
high of 58.8 in March, however the still-high index suggests that
private sector industrial production has risen substantially.
Industrial production has fallen to a five-month low, while
services sector activity hit a seven-month high, the bank said.
Pr
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