UPDATE2: Preliminary statistics: Russia’s GDP falls 3.7% in 2015

(Adds details on December 2015 GDP in second, third paragraphs)

MOSCOW, Jan 25 (PRIME) -- Russia’s gross domestic product (GDP) contracted by 3.7% in 2015, the Federal State Statistics Service said in a statement Monday citing preliminary data.

Economic Development Minister Alexei Ulyukayev told reporters that Russia’s GDP excluding seasonality fell 0.1% in December 2015.

“Tracked factors are worsening – in industrial output, in GDP, especially in processing – a slight decrease, albeit smaller than in November. In November we had a 0.3% fall excluding seasonality, in December we had 0.1%, and I mean GDP,” he said.

Industrial output decreased 3.4% on the year in 2015, exceeding the Economic Development Ministry’s forecast of 3.3%, the Federal State Statistics Service said in a statement on Monday.

In December 2015, the industrial production fell 4.5% on the year but rose 7% on the month.

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