Russia's economy is officially in recession
CBSN
Nine months after Russia invaded Ukraine, its economy has entered a recession, according to government statistics released this week.
The nation's output has shrunk for two consecutive quarters, according to Rosstat, the government statistical agency.
In the July-September period, Russian economic output fell 4% from the corresponding period the year before, Rosstat announced. Wholesale, retail, shipping and manufacturing activity fell during that period, while construction and agriculture grew, the government said.
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