Russia: Contraction in industrial output softens in November
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%.