Russia Industrial production October 2021

Russia

Russia: Industrial output growth gains momentum in October

November 25, 2021

Industrial output rose 7.1% in year-on-year terms in October, which was above September's 6.9% increase. Looking at the details of the release, mining and quarrying output rose at a faster rate compared to the previous month in October, more than offsetting softer manufacturing activity growth at the outset of Q4.

On a monthly basis, factory output increased 0.8% in seasonally-adjusted terms in October, which was below September’s 1.8% expansion. Meanwhile, the trend continued to improved sizably, with the annual average growth of industrial production coming in at plus 4.5%, up from September's 3.5% reading.

FocusEconomics panelists projects industrial output to increase 2.9% in 2022, which is up 0.1 percentage points from last month’s forecast. For 2023, the panel expects industrial production to rise 2.4%.


Author:, Research Team Manager

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Russia Industry October 2021

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Federal State Statistics Service (Rosstat) and FocusEconomics calculations


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