Russia: Industrial output growth softens in November
December 22, 2021
Industrial output grew 7.0% compared to the same month of the previous year in November, which followed October's 7.4% increase. The downturn largely reflected decelerating mining and quarrying output and softer growth in electricity, gas, steam and air conditioning supply output. However, manufacturing output gained traction.
On a seasonally-adjusted monthly basis, industrial output rose at a softer pace of 0.2% in November (October: +1.0% mom). Meanwhile, the trend improved sizably, with the annual average growth of industrial production coming in at plus 5.2% in November, up from October's 4.5% reading.
Author: Almanas Stanapedis, Research Team Manager