Russia’s economy probably contracted an annual 2.2 percent in the fourth quarter, ING Bank NV economist Tatiana Orlova said in a note to clients Tuesday. Fixed investment shrank 14.2 percent from a year earlier and household spending declined an annual 9.6 percent in the three final months of the year, ING estimates. “All these improvements fit the picture of a gradual recovery from a low base,” Orlova said in the note. “The household consumption growth figure especially gives not much ground for optimism. We expect the picture to change little in the coming months.” Russian output contracted a record 7.9 percent in 2009, the State Statistics Service said Monday.