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Monday, September 10, 2007

Russian GDP Q2 2007

Russia's economy expanded an annual 7.8 percent in the second quarter as a consumer goods and and investment boom continued. This followed a 7.9 percent expansion in Q1, according to the Federal Statistics Service earlier today.

Growth has now been above 5 percent for five consecutive quarters, while annual wage growth has been running at 13 percent every month this year, fueling demand for housing and consumer goods.

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