By Olga Razumovskaya

MOSCOW--Russia's gross domestic product contracted by 0.4% in the third quarter of 2016, the Russian Federal Statistics Service said on Monday.

The year-on-year GDP contraction slowed to 0.4% from 0.6% in the second quarter and 1.2% in the first quarter, Rosstat said.

Rosstat's data are in line with an estimate by the economy ministry.

Gross domestic product will shrink 0.5%-0.6% this year, compared with a previous forecast of a 0.2% contraction, Russia's economy minister Alexei Ulyukayev said in September.

Write to Olga Razumovskaya at

(END) Dow Jones Newswires

November 14, 2016 09:12 ET (14:12 GMT)

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