Reuters: US Dollar Report: UPDATE 1-Russia's economic growth slows in Sept -economy minister

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UPDATE 1-Russia's economic growth slows in Sept -economy minister Oct 21st 2013, 11:31 Share this Email Print Reprints Mon Oct 21, 2013 7:31am EDT * Russia's GDP grew 1.5 pct in Sept vs 1.6 pct in Aug * Econ Min says 2013 growth forecast of 1.8 pct achievable MOSCOW Oct 21 (Reuters) - Russia's economic growth slowed in September, hit by weaker consumer and investment demand and sluggish exports, Economy Minister Alexei Ulyukayev said on Monday. Russia's gross domestic product grew by 1.5 percent in September in annual terms from 1.6 percent in August. "I'm afraid there are few positive signals at the moment, we are still in stagnation," Ulyukayev told journalists, adding that the government's 1.8 percent growth forecast for this year was still achievable. Russia's $2.1 trillion economy is growing at the slowest pace in four years as weak industrial output, slowing investment and waning consumer confidence weigh. Ulyukayev made the comments after officials met foreign executives for talks on how to kick-start investment in an economy that until the 2008-09 crash relied on booming commodity prices to drive growth. The minister also said the economy grew by 1.5 percent in the first nine months of 2013, year-on-year. Russia's third-quarter economic growth was near zero. Link this Share this Digg this Email Reprints

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