Russia Set to Sidestep Recession for Now, Even as Growth Fades

Russia’s economy likely returned to growth last quarter, dodging a recession despite pressure from ultra-high interest rates.

Gross domestic product in annual terms expanded 1.5% in the second quarter, according to the median estimate of economists surveyed by Bloomberg. That implies the economy also grew quarter-on-quarter to avoid a second straight contraction — the definition of a technical recession.