Russian recession finds no bottom as skid picks up pace

Moscow

RUSSIA, which Moody's Analytics estimates entered a recession in the first quarter, may be in for a rough ride.

Gross domestic product (GDP) shrank 4.6 per cent from a year earlier in the second quarter, the most since 2009, after a 2.2 per cent slump in the previous three months, the Federal Statistics Service said on Monday, citing preliminary data.