Russian Economic Growth Slows More Than Estimated in 2013

Russia’s economy grew at less than half the previous year’s pace in 2013, missing economist forecasts as investment fell amid a record slump in Europe. Officials warned the outlook remains weak for this quarter.

Gross domestic product advanced 1.3 percent, the least since a 2009 recession, compared with 3.4 percent in 2012, the Moscow-based Federal Statistics Service reports its first estimate in an e-mailed statement. That fell short of the median 1.5 percent forecast of 19 economists in a Bloomberg survey and the Economy Ministry estimate of 1.4 percent.