• Russian Economy Crawled to Growth With Recession in Rearview
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[quote] Russia’s economy returned to growth at the end of 2016, turning the page on seven consecutive quarters of contraction that [URL="https://www.bloomberg.com/news/articles/2017-03-22/this-recovery-isn-t-for-everyone-as-inequality-reshapes-russia"]laid waste[/URL] to the middle class after oil prices crashed. Gross domestic product gained 0.3 percent from a year earlier in the fourth quarter after a decline of 0.4 percent in the previous three months, the Federal Statistics Service said Friday. That matched the median of 11 estimates in a Bloomberg survey. GDP shrank 0.2 percent in the full year, the statistics service said, confirming its first reading. The challenge for the world’s biggest energy exporter now is for its recovery to gain traction as consumer demand continues to sag and the outlook for oil remains dim. Russia may now be at a turning point as capital-intensive businesses come to life after three years of declining investment that followed the collapse in crude prices. GDP may [URL="https://www.bloomberg.com/news/terminal/OK2FPW6S972O"]grow[/URL] as much as 2 percent this year, according to officials.[/quote] [url]https://www.bloomberg.com/news/articles/2017-03-31/russian-economy-crawls-to-0-3-growth-with-recession-in-rearview[/url]
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