Belarus: Industrial production edges down in February
March 17, 2020
Industrial production fell 0.8% on an annual basis in February, following a marked 5.8% dip in the opening month of the year, which had marked the sharpest contraction since November 2015. Notably, the February’s result was positively influenced by the leap-year extra day, suggesting that the calendar-day adjusted outturn was considerably weaker.
February’s decrease was mostly driven by contracting activity in the mining and quarrying, and utilities supply sectors. Meanwhile, activity in the all-important manufacturing sector was stable, contrasting a marked downturn in January, while the water supply sector continued to expand moderately in February.
Meanwhile, annual average growth in industrial production slumped to an over three-year low of 0.3% in February, from 0.4% in January.
Author: Almanas Stanapedis, Economist