Economic Sanctions Not Key Cause of Russia’s Possible Recession

Mises Daily: Wednesday, April 09, 2014 by Frank Shostak

and the European Union are pushing Russia toward a recession. However, we hold that some key Russian economic data have been displaying a weakening prior to the annexation of the Crimea to Russia. This raises the likelihood that sanctions might not be the key factor for an emerging recession.

The yearly rate of growth of monthly real gross domestic product (GDP) eased to 0.3 percent in February from 0.7 percent in January and 1.8 percent in July last year. After closing at 12.2 percent in March last year the yearly rate of growth of retail sales fell to 7.7 percent in January before settling at 9.6 percent in February.....To Read More.....