Analysts remain gloomy about the economy's prospects for this year following lackluster first quarter data but believe that the worst of the slowdown has passed, a Reuters poll showed.

Gross domestic product will shrink 4.7 percent this year, the median forecast of 16 analysts showed Thursday. That compared to the 2.9 percent contraction predicted a month ago.

"So far, we see only downside risks to our economic activity forecasts," said Stanislav Ponomarenko, head of research at ING.

Most analysts no longer expect that economic growth will resume in the final months of this year.

Nonetheless, they remain more optimistic than the Economic Development Ministry's revised preliminary forecast for a 6 percent shrinkage, and the poll suggests that Russia has already passed the worst of this year's slowdown.

Unemployment was seen at 10.5 percent for 2009, only slightly higher than the 10 percent seen in March.

Quarterly GDP contractions were expected to moderate from the 9.5 percent in the first quarter to 6 percent in the second, 4.8 percent in the third and just 1.8 percent in the final three months of the year.

"April, unlike March … could bring some pleasant news," said Yevgeny Nadorshin, senior economist at Trust Bank. "That includes slowing producer price inflation and the resumption of net capital flows," he added.