Maxim Oreshkin

A Surprising Contraction of the Russian Economy in November 2017

Russia's economy shrank surprisingly in November 2017, mainly as a result of declining industrial production, BNR reported. National radio refers to the ministry of economy, quoted by Reuters.

Gross domestic product declined by 0.3% in November compared to a year earlier, thus defeating forecasts by economists and analysts for growth of 1.5 percent.

Russian economy may be over the worst, returning to growth

The Russian economy, hurt by weak energy prices and Western sanctions, returned to growth late last year after seven quarters of contraction, official data suggested on Wednesday.

Russia’s statistics service surprised economists by finding gross domestic product (GDP) contracted by only 0.2 percent in 2016.