Economics
Russia’s Break From a Recession Was Fleeting
- Russia probably suffered ‘technical recession,’ JPMorgan says
- President stays upbeat, says economy is still ‘on the upswing’
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After suffering its longest economic contraction this century, Russia may just have had the shortest recovery.
JPMorgan Chase & Co. says the world’s biggest energy exporter probably capped last year with two consecutive quarters of contraction -- or a technical recession -- a surprise cooldown that ranged from struggling consumer spending to a flop in industrial output.