UPDATE: Russian cbank: Seasonally adjusted GDP may fall up to 1% Jan–Mar

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MOSCOW, Feb 3 (PRIME) -- Russia’s seasonally adjusted gross domestic product (GDP) will shrink by less than 1% in January–March, the central bank said in a statement Wednesday citing preliminary data.

The annual rate of GDP decrease can reach 1.7–2.5% in the quarter, the authority said. In December 2015, the central bank forecasted a 1–2% annual economic contraction for January–March.

The household consumption can fall 2.2–3.3% on the year in the period because of real wage decrease and continuation of unemployment growth, the central bank said.

Capital investments will continue decreasing, the authority said, attributing the expectation to its tough monetary policy and an unstable situation in the real sector.

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