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. Last Updated: 07/27/2016

CIS Recession Slows

MOSCOW () -- The recession in the Commonwealth of Independent States is slowing but not yet over, the CIS Interstate Statistics Committee said.

"As a whole in the Commonwealth the economic slump has not yet been overcome, but the pace of decline has slowed somewhat," it said Thursday.

Gross domestic product in the first quarter of this year in the CIS was 3.7 percent lower than a year earlier, it said. In the first quarter of 1995, GDP was 7.7 percent lower than a year earlier.