Ministry: Russia’s seasonally adjusted GDP falls 0.4% in May

MOSCOW, Jun 23 (PRIME) -- Russia’s gross domestic product (GDP) excluding seasonality contracted by 0.4% on the month in May after a 0.8% month-on-month contraction in April, Deputy Economic Development Minister Alexei Vedev told reporters Tuesday.

“Our estimates showed that the month-on-month economy’s decrease is contracting, and the tendency is absolutely stable. In May, the decrease excluding seasonality amounted to 0.4%,” Vedev said.

In January, the month-on-month GDP decrease stood at 1%, while in February and March it amounted to 0.9%. In January–May, GDP shrank by 3.2%.

The Economic Development Ministry’s forecast for the country’s GDP contraction in 2015 stands at 2.8%.

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