Russia falls into recession: statistics agency
- World
- AFP
- Published Date: 07:22 | 16 November 2022
- Modified Date: 09:26 | 16 November 2022
Russia's economy has entered a recession as gross domestic output fell by four percent in the third quarter, according to first estimates published Wednesday by the national statistics agency, Rosstat.
The drop follows a similar four percent contraction in the second quarter, as Western sanctions pummel Russia's economy following Moscow's offensive in Ukraine.
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