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Russian GDP down by 2.4% in January - economics minister
13:03 | 20/ 02/ 2009
MOSCOW, February 20 (RIA Novosti) - Russia's GDP fell by 2.4% and industrial output decreased 3.5% in January, the economic development minister reported on Friday.
"GDP fell by 2.4% in January," Elvira Nabiullina said at a State Council meeting in Irkutsk, East Siberia.
"Industrial production fell by 3.5% excluding the seasonal factor," she added.
Nabiullina described the economic situation in the country as quite complex, warning that: "Such trends will certainly persist throughout March."
The ministry lowered its GDP forecast to -2.2%, industrial production to -7.4% and investment to -14% earlier this week.