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Russia's Economic Growth Slows
Russia's gross domestic product expanded 2% in the fourth quarter of 2012 compared with a year earlier, according to the country's Federal Statistics Service.
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Russia's gross domestic product expanded 2% in the fourth quarter of 2012 compared with a year earlier, according to the country's Federal Statistics Service.
The Russian economy grew a revised 3% in the third quarter. Analysts say Europe's debt crisis prompted businesses to postpone investment and the government to curb spending in the final three months of the year. The EU accounts for half of the country's trade.
The Russian government has predicted 3.6% economic expansion in 2013 compared with 3.4% for full-year 2012. But officials say this year's weak start may cause them to lower the forecast.
Global automakers have been counting on growth in Russia to offset Europe's slumping sales and softening demand in China.
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