Russian economy shows biggest economic fail in four years

The Russian economy showed the worst economic results of the past four years last January. Investments dropped by 7%, compared with the start of 2013. The same decline happened in January 2010. The rate of gross business growth dropped by 2.4% to its lowest in the past 4 years, Vedomosti reports.

Real income of the population dropped by 1.5%. The nominal wage growth totaled 8.7%, the worst indicator since 2009.

Unemployment, however, dropped by 0.2% since December 2013.

Overall, the rate of GDP growth in January went downhill, though exact figures are yet to be published, a high-ranking functionary for socio-economic affairs says. He believes that stagnation may continue throughout Q1 2014.