The Warning Signs for Russia's Economy Are Flashing Red
Fueled by massive military spending and steady oil exports, Russia recorded some of the highest growth rates among major economies over the past two years. But in recent weeks economic indicators have been flashing red: Manufacturing activity is declining, consumers are tightening their belts, inflation remains high and the budget is strained.
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The Warning Signs for Russia's Economy Are Flashing Red
Russia's sanctions-defying economy, propelled higher by the Ukraine war, is suddenly coming back down to earth. Fueled by massive military spending and steady oil exports, Russia recorded some of the highest growth rates among major economies over the past two years. But in recent weeks economic indicators have been flashing red: Manufacturing activity is declining, consumers are tightening their belts, inflation remains high and the budget is strained.
