Belarus: Industrial production picks up pace in July
August 16, 2018
Industrial production growth accelerated slightly in July, as output increased 5.7% year-on-year, up from a five-month low of 5.3% in June. Meanwhile, annual average industrial production growth remained unchanged from the previous month and stood at 7.0% in July.
Industrial output rose 7.5% annually in the January–July period (January–June: +7.8% year-on-year). The print was driven by solid growth in the manufacturing sector, which expanded 8.1%, down slightly from the 8.6% increase logged in the previous month. Production of machinery and equipment; wood and paper; transport vehicles and equipment; and basic pharmaceuticals and medicinal products all expanded by double-digits in the period, leading the overall growth in the sector.
Growth in gas, steam, hot water and air conditioning supply picked up pace in July, while mining and quarrying output moderated somewhat in the month. Finally, the water supply and waste management sector’s output growth remained nearly flat in July.
Belarus Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will expand 5.5% in 2018, which is up 0.2 percentage points from last month’s forecast. For 2019, panelists expect industrial production to rise 4.8%.
Author: Almanas Stanapedis, Economist