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Russia GDP Growth Slows to 4.1% on Outflows, Below Estimates

Russia’s economic growth slowed in the first quarter as corporate investment stagnated and the biggest quarterly gain in oil prices for two years failed to offset $21.3 billion of capital outflows.

Gross domestic product rose 4.1 percent from a year earlier after increasing 4.5 percent in the previous three months. The median estimate in a Bloomberg survey of 15 economists was 4.2 percent. The Economy Ministry estimated growth at 4.5 percent, and Prime Minister Vladimir Putin put it at 4.4 percent.