{"id":1357336,"date":"2022-03-03T17:38:09","date_gmt":"2022-03-03T22:38:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1357336"},"modified":"2022-03-03T17:38:14","modified_gmt":"2022-03-03T22:38:14","slug":"j-p-morgan-says-russian-economy-will-shrink-35-in-second-quarter","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/j-p-morgan-says-russian-economy-will-shrink-35-in-second-quarter\/","title":{"rendered":"J.P. Morgan Says Russian Economy Will Shrink 35% in Second Quarter"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fj-p-morgan-says-russian-economy-will-shrink-35-in-second-quarter%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1357336&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/03\/GettyImages-1231872965-640x335-1.png\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p class=\"subheading\">J.P. Morgan said on Thursday it expected Russia\u2019s economy to experience a severe contraction thanks to sanctions and economic fallout from the attack on Ukraine.<\/p>\n<p>The economy is likely to shrink at a 35 percent in the second quarter and contract seven percent in 2022.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>\u201cSanctions and decisions of foreign businesses to pause or halt Russia operations have led to a stall in international trade, reduced output, and supply-chain disruptions,\u201d JPMorgan strategist Anatoliy Shal wrote in a note to clients.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>That would put the decline in output on par with the 1998 economic crisis that helped bring Putin to power and the 2008 global financial crisis.<\/p>\n<p>\u201cA peak-to trough decline in Russian GDP is now expected at around 12%, comparable to 1998 (~10%) and 2008 (~11%) crises and COVID-19 shock (~9%),\u201d Shal wrote.<\/p>\n<p>JPMorgan expects exports to decline around 13 percent this year, which may be overly optimistic due to the unofficial \u2018self-sanctioning\u2019 that has hit the market for Russian oil. The bank\u2019s analyst expects domestic demand to fall by about 10 percent and imports to drop around 30 percent.<\/p>\n<p>On a positive note for Russians, there are signs that the run on the banks is easing as Russian people realize that their banking system cannot run short of rubles no matter how harsh the sanctions from outside Russia might be.<\/p>\n<p>\u201cThe shock implies a lower potential output, which will be accompanied with a spike in prices \u2014 A credit crunch will add to pain, although there are signs that the run on banks is easing,\u201d Shal wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>J.P. Morgan said on Thursday it expected Russia\u2019s economy to experience a severe contraction thanks to sanctions and economic fallout from the attack on Ukraine. The economy is likely to<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1357336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1357336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1357336"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1357336\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1357336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1357336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1357336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}