Worrying data raise Russia recession odds: Economist

Data released Monday shows Russia's economy "worryingly" deteriorated at the end of last year with oil prices in a tailspin only bolstering the odds of a second year of recession for Moscow, an analyst has told CNBC.

Russia's state statistics agency, Rosstat, reported preliminary figures Monday that showed its gross domestic product contracted by 3.7 percent in 2015, much worse than the 0.6 percent growth tracked in 2014 but roughly in line with forecasts.

Worrying data raise Russia recession odds: Economist