Russia Industrial production August 2021

Russia: Industrial output growth slows in August

Industrial output increased 4.7% in year-on-year terms in August, which was a deterioration from July’s 7.2% increase. The result marked the worst reading since March. August’s slowdown largely reflected decelerating manufacturing and mining and quarrying production.

On a seasonally-adjusted monthly basis, industrial output fell at a quicker rate of 0.8% in August (July: -0.1% mom), the worst result since January. That said, the trend improved, with the annual average growth of industrial production coming in at an over one-year high of plus 2.6% in August, up from July’s 1.9%.

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