Russian Industry Slump Reaches 4 Months, Longest Since 2009
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Russian industrial production dropped more than forecast by economists, sliding for a fourth month in the longest slump since 2009.
Output at factories, mines and utilities fell 5.5 percent from a year earlier in May after a 4.5 percent decline in April, the Federal Statistics Service in Moscow said Tuesday in an e-mailed statement. That’s the worst performance since October 2009 and lower than the median forecast for a 3.8 percent drop in a Bloomberg survey of 19 economists.