Russia's economy contracts 0.3% in first quarter of 2026

16 articles · Updated · The Bell · May 6

Economic Development Ministry data showed January GDP fell 1.8%, February 1.1%, before March rebounded 1.8%, the first quarterly decline since early 2023.
Business activity weakened as the central bank's climate indicator turned negative in February and Sberindex showed business turnover down 2.2%, while real income growth slowed to 2.6%.
After two years of overheating driven by military spending, civil industries are stagnating and consumer demand is fading, though unemployment stayed at 2.2% and inflation was 5.7% in late April.

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