Economy Ministry says Russian GDP falls 2.4% on year in January

MOSCOW, Feb 19 (PRIME) -- Russia's gross domestic product (GDP) decreased by 2.4% on the year in January as consumer activity recovered, the Economic Development Ministry said in a statement late on Thursday.

"According to the Economic Development Ministry estimate, the GDP fell 2.4% on the year in January 2021," the ministry said.

The decline of retail sales slowed down to 0.1% on the year in January. Demand for non-food goods grew by 0.9% on the year, rising for the first time since April 2020. The decrease in food sales slowed down to 1% in January from 4.5% on the year in December.

Paid services and catering revenue is rising gradually.

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