Possibility to recover data from restored iPhone?
Unless you had a backup, no. Do you have a copy of your contacts anywhere? iCloud for example? Visit www.icloud.com and login with your AppleID, see in the contacts tab if you still can find your contacts.

If this isn't the case, I don't think you can do anything but learn out of it and make backups regulary.

iTunes is offering you this option. See the support document on iOS: How to back up and restore your content for a complete description.