Russia: Expansion in industrial production moderates in June
July 16, 2014
In June, industrial production expanded 0.4% over the same month last year. The result was down from the 2.8% growth recorded in May and marked the slowest pace of expansion in five months. June’s print undershot the 2.0% increase that market analysts had expected. The deceleration in industrial production came on the back of a slowdown in mining and quarrying as well as in manufacturing. Moreover, electricity, gas and water contracted at a faster rate in June than in May.
On a month-on-month seasonally-adjusted basis, industrial output contracted 0.1% in June (May: -0.4% month-on-month). Meanwhile, annual average growth in industrial production inched down from 1.4% in May to 1.3% in June.