April 8 (Bloomberg) -- Russia’s economy is poised for the “biggest bounce” in the world this year as companies rebuild stocks and resurgent consumer demand boosts output, Bank of America says in a report released on Thursday.

The economy of the world’s biggest energy supplier will grow by 7% this year says David Hauner, the head of the BA’s emerging-markets economics, raising a previous estimate for 5% expansion.

Russia’s output will not match its pre-crisis peak until the first quarter of 2011 though. On a seasonally adjusted basis Russia’s GDP gained 6.5% in the first quarter from the previous three months and inflation is expected to slow down to 6%, the report says.

Source: BusinessWeek