Russia's economy has entered a recession as gross domestic output fell by 4% in the third quarter, according to first estimates published Wednesday by the national statistics agency, Rosstat.  The drop in GDP follows a similar 4% contraction in the second quarter, as Western sanctions pummel Russia's economy following Moscow's offensive in Ukraine.  The 4% drop in economic output between July and September was less than the 4.5% contraction analysts had expected.
    • vekku@sopuli.xyzOP
      3·
      2 years ago

      I think but am not 100% certain that these figures are real GDP, which takes inflation and deflation into account. Do you have better information?

      • Nikolay@lemmy.ml
        23·
        2 years ago

        We all know that the officially reported inflation rate is much lower than the actual one. GDP should be adjusted for inflation, but it’s using the official numbers, which are lower, and it looks like GDP has gone up.

        • vekku@sopuli.xyzOP
          4·
          2 years ago

          We all know that the officially reported inflation rate is much lower than the actual one.

          Sorry, what?

          GDP should be adjusted for inflation, but it’s using the official numbers, which are lower, and it looks like GDP has gone up.

          Yes, but it’s now clear that you do not in fact have better information. Glad we cleared that up.

          • Nikolay@lemmy.ml
            1·
            2 years ago

            And do you have “better” information? This is not my opinion - research to see that many economists are supporting my personal point as well!

            • vekku@sopuli.xyzOP
              2·
              2 years ago

              And do you have “better” information?

              Yes, and you also have it. Simply read the article. What you seem to have is gut feeling, at least until you give us better information, i.e. sources.