While the signs of recovery are promising, it is a way short of the boom years of the past.
Prime Minister Vladimir Putin has said The Russian economy needs at least two to three years to recover to the levels before the global financial and economic crisis hit Russia in 2008.
"Today we are witnessing positive dynamics in major economic indices. In the estimates of the Economic Development Ministry, gross domestic product in Russia will expand 3.5-4% in 2010. There are even more optimistic forecasts but we'll proceed from conservative scenarios," Putin said.
Putin said industry also demonstrated positive dynamics, expanding 10.4% in April.
Never the less Eurozone sovereign debt worries, the potential to impact the real economy as experienced by Honda earlier this week and a subsequent impact on commodity exporters like Russia mean the recovery is less than secure.