Russia’s GDP falls 12% in April, 1.9% in January–AprilChristian Fernsby ▼ | May 29, 2020
Russia’s gross domestic product (GDP) fell 12% on the year in April and 1.9% in January–April, the Economic Development Ministry said.
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“The largest decline in April was seen in sectors of the economy focused on consumer demand. A significant contribution to the decrease in GDP in April was made by the fall in the sphere of consumer services. The volume of paid services provided to the population fell in April by 37.9% on the year (-5.4% year-on-year a month earlier), which is connected with restrictions on activities in the field of leisure, culture and sports, as well as domestic services,” the statement said. ■