Russian Economy Shrank in November for First Time Since 2009

Russia’s economy had its first decline since October 2009 last month as manufacturing and investment shrank when a currency rout pushed the ruble to a record low.

Gross domestic product shrank 0.5 percent in November from a year earlier after a 0.5 percent increase in October, the Economy Ministry said in a report on its website today. GDP fell 0.2 percent from the previous month on a seasonally adjusted basis after a 0.1 percent advance in October.