Russian economic growth slows to 1pc y/y in Oct

MOSCOW: The Russian economy grew by 1 percent year-on-year in October after expanding by 2.4 percent in September, the economy ministry said on Monday.

The ministry said a deal by OPEC, Russia and other leading oil producers to limit global output had hit some areas of the Russia's oil-dependent economy.

"With the overall positive impact of the OPEC+ deal on the Russian economy in October, the output dynamic in the production sector and related sectors became a constraint on economic growth," it said in a monthly report.

Russia's GDP is seen expanding by slightly more than 2 percent in 2017 after two consecutive years of contraction, according to previous forecasts by the economy ministry and the central bank.