Russia Industrial production November 2020

Russia

Russia: Contraction in industrial output softens in November

December 16, 2020

Industrial output decreased 2.6% year-on-year in November (October: -5.5% yoy). November's reading marked the best result since March. The reading reflected a broad-based upturn, with activity in the manufacturing, mining and quarrying, and electricity, gas, steam and air conditioning supply sub-sectors all improving in November.

On a monthly basis, factory output rose 1.0% in seasonally-adjusted terms in November, contrasting October’s 0.1% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 2.5% in November, down from October's minus 2.2%.

FocusEconomics panelists projects industrial output to increase 3.2% in 2021, which is down 0.3 percentage points from last month’s forecast. For 2022, the panel expects industrial production to rise 2.7%.


Author:, Research Team Manager

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Russia Industry November 20 20

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


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