Econ min: Russia’s GDP falls 2.3% in annual terms February

MOSCOW, Mar 27 (PRIME) -- Russia’s gross domestic product (GDP) has contracted by 2.3% on the year in February after a 1.5% decrease in January, the Economic Development Ministry said in a statement Friday.

“According to the ministry’s estimates, GDP excluding seasonal and calendar factors fell 0.5% in February after a 1.1% contraction in January. Most figures showed a slowdown of negative dynamics excluding seasonality,” the ministry said.

A significant decrease was registered in investment in fixed assets, construction and retail turnover. A positive impact was provided by mineral extraction and agriculture, the ministry added.

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