Belarus: Industrial production slows further in June
July 16, 2018
Industrial production growth slowed to 5.3% in annual terms in June, a five-month low, from the 6.3% figure recorded in May. Meanwhile, annual average industrial production growth inched down to 7.0% in June from May’s 7.1%.
Industrial output rose 7.8% annually in the January–June period (January–May: +8.3% year-on-year). The moderation came on the back of decelerating growth in the manufacturing sector, which expanded 8.6%, down from the 9.5% logged in the previous month. Despite the weaker print, production of machinery and equipment; transport vehicles and equipment; and basic pharmaceuticals and medicinal products all expanded by double-digits in the period.
Growth in the water supply and waste management sector also eased in June. Meanwhile, electricity, gas, steam, hot water and air conditioning supply, and mining and quarrying production all accelerated in June.
Belarus Industrial Production Forecast
FocusEconomics Consensus Forecast panelists project that industrial production will expand 5.3% in 2018, which is up 0.5 percentage points from last month’s forecast. For 2019, panelists expect industrial production to rise 4.5%.
Author: Lindsey Ice, Economist