Russia: Industrial output growth loses pace in June
July 23, 2021
Industrial production grew 10.4% year-on-year in June (May: +12.3% yoy). The slowdown came chiefly on the back of decelerating manufacturing activity, whereas mining sector and electricity, gas, steam and air conditioning supply continued to increase robustly.
On a seasonally-adjusted monthly basis, factory output fell 0.4% in June (May: +1.3% mom), the worst result since January. Meanwhile, the trend improved significantly, with the annual average variation of industrial production coming in at plus 0.6% in June, contrasting May's minus 0.8%.
Author: Almanas Stanapedis, Research Team Manager