Russia: Industrial output growth eases in July
Latest reading: Industrial output expanded 0.7% year on year in July (June: +1.9% yoy). July’s figure was largely driven by a deterioration in manufacturing production growth, as it recorded the weakest reading since February 2023. Meanwhile, mining and quarrying production stabilized, after having declined in the prior month.
On a seasonally adjusted monthly basis, industrial output fell at a softer rate of 0.4% in July (June: -1.6% mom s.a.). Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 2.7%, down from June’s 3.0% reading.