Russian GDP falls 0.5 pct in Q1: central bank

MOSCOW, May 7 (Xinhua) -- Russia's gross domestic product (GDP) declined by 0.5 percent year on year in the first quarter of 2026, lower than previous forecast, the Bank of Russia said Thursday.

According to the central bank, Russia's economy is expected to return to growth in the second quarter of 2026, with its GDP projected to expand by 0.9 percent year on year.

The central bank attributed the weaker-than-expected first-quarter performance in part to the calendar factor and adverse weather conditions that affected several sectors, including construction.

Economic activity is expected to recover in the second quarter as the calendar effect reverses, said the regulator.