Russia Industry


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.

The government sees industrial output expanding 2.2% in 2014. The panel expects industrial production to increase 0.8% in 2014, which is up 0.2 percentage points from last month’s forecast. For 2015, the panel expects growth in industrial production to accelerate to 1.6%.


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Russia Industry Chart

Russia Industry June 2014

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Federal State Statistics Service (Rosstat) and FocusEconomics calculations.

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