Russia Industrial production March 2024

Russia: Industrial output growth wanes in March

Industrial production expanded 4.0% year on year in March (February: +8.5% yoy), falling slightly short of market expectations. Looking at the details of the release, the deterioration was broad based and came on the back of slowing growth in manufacturing, and mining and quarrying output.

That said, annual average industrial production growth rose to 5.3% in March (February: +5.0%).

On a seasonally adjusted monthly basis, industrial production rose at a softer pace of 0.1% in March (February: +1.6% mom).

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