Russia’s break from a recession was fleeting

JPMorgan Chase & Co. says Russia probably suffered a technical recession — two consecutive quarters of contraction — over the second half of 2017, Bloomberg reports. Despite higher oil prices and Russia’s economy still growing relative to a year earlier, decreasing industrial output, struggling consumer spending and other factors are expected to result in two consecutive quarters of retraction, according to JPMorgan. Official Russian GDP data is not yet available past the third quarter of 2017.


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