Russia: Industrial output records lowest growth since March in November
Industrial output expanded 4.3% compared to the same month a year earlier in November, which followed October’s 5.3% increase. The figure marked the softest upturn since March. The result was chiefly driven by weaker manufacturing output growth. In addition, both mining output and electricity, gas, steam and air conditioning supply production contracted half-way through Q4.
On a seasonally adjusted monthly basis, industrial production rose 0.2% in November (October: -0.4% mom). Meanwhile, annual average industrial production growth rose to 3.1% in November (October: +2.7%), which marked an over one-year high.