Belarus: Industrial activity contracts at record pace in July
Industrial output fell 12.2% compared to the same month of the previous year in July, worsening from June’s 10.2%. July’s figure marked a fresh series-low, as the consequences of the war in Ukraine continue to hinder the economy. The reading was mainly driven by subdued activity in mining and quarrying,
Meanwhile, annual average industrial production growth fell to 8.2% in July (June: -6.9%), signaling a worsening trend in the industrial sector.