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MOSCOW (Reuters) - Investment demand in July has cemented the role of the locomotive of recovery of the Russian economy to the persistent weakness of consumption but outstripping forecasts of growth in real wages can upset the Central Bank, becoming the reason for more cautious monetary policy, economists say.
Published by the Rosstat statistics reflected mainly the deterioration of the main macroeconomic indicators as of Jun. The growth of industrial production in July slowed to 1.1% yoy from 3.5% in June due to manufacturing industries, agriculture showed a decline of 2.9 percent year-on-year after declining 1.3 percent in the previous month.
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