Russia: Industrial production contracts in May
Latest reading: Industrial production declined 0.7% on a year-on-year basis in May, following a 1.9% increase in the previous month.
Relative to the prior month’s figures, readings in May softened for manufacturing (+0.5% in annual terms vs +3.1% in April), mining and quarrying (-2.7% vs -0.4% in April), electricity, gas, steam and air conditioning supply (-2.2% vs +0.9% in April) and water supply, sewerage, waste management and remediation activities (-3.4% vs +0.9% in April).
In calendar and seasonally adjusted month-on-month terms, industrial production was down 0.8% in May, following a 0.3% increase in the prior month.