Russia Industry


Industrial output expands slightly in August

In August, industrial production rose 0.1% over the same month last year, which contrasted the 0.7% drop recorded in July and exceeded the market's expectation of a flat reading. The result was mainly driven by stronger growth in the mining sector.

On a month-on-month seasonally adjusted basis, industrial output rose 0.7% (July: -0.9% mom). Meanwhile, average annual growth in industrial production fell from 0.8% in July to 0.6% in August.

The government sees industrial output expanding 0.7% in 2013. FocusEconomics Consensus Forecast panelists are less optimistic and expect industrial production to increase 2.5% in 2013, which is down 0.3 percentage points from last month's forecast. For 2014, the panel expects industrial production growth to accelerate to 3.2%.

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Russia Industry Chart

Russia Industry August 2013

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

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