Home

The Russian economy has officially got a shrinkage problem.

New data from the Ministry of Economic Development shows the country’s gross domestic product shrank in November, marking the first time the economy has contracted in the last five years.

The contraction was widely expected — and is forecast to get much worse — as Russia suffers from a sharp fall in oil prices and a squeeze from Western sanctions.

http://money.cnn.com/2014/12/29/news/economy/russia-economy-gdp-shrink/index.html