Russia Industry


Industrial output rebounds in March

In March, industrial production advanced 2.6% over the same month last year, rebounding from a 2.1% fall in February and contrasting market expectations of a 1.0% drop. The expansion was broad-based, as all three main industrial sectors recovered from the contractions experienced last month.

On a month-on-month seasonally adjusted basis, industrial output rose also 2.6% (February: +1.1% mom). As a result of the March reading, the trend stabilized, with average annual variation in industrial production remaining unchanged at February's 1.6%

The government recently cut its projections for industrial production this year and currently sees industrial output expanding 3.4% in 2013, which is down from an earlier 3.6% estimate. FocusEconomics Consensus Forecast panellists expect industrial production to increase 3.1% in 2013, which is down 0.1 percentage points from last month's forecast. For 2014, the panel expects industrial production growth to accelerate to 3.6%.

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Russia Industry Chart

Russia Industry March 2013

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

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