Something for Russians to Cheer About as Economy Bottoms Out

Updated on
  • GDP slumped 4.1% last quarter after 4.6% fall in prior period
  • Russian economy at risk of longest recession in two decades

Unlike the economic contractions of 1998 and 2009, when the pace of decline only worsened after two quarters, this time Russia may already be past the low point after signs of improvement in industrial output.

Photographer: Andrey Rudakov/Bloomberg

Almost eight months after top officials declared the worst to be over for Russia, the economy is finally living up to those expectations. 

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