Russia Industry May 2019

Russia

Russia: Industrial output growth picks up in June

July 16, 2019

Industrial production rose 3.3% in annual terms in June, accelerating notably from May’s modest 0.9% year-on-year increase. A rebound in manufacturing output was chiefly behind the acceleration, more than offsetting softer growth in the mining sector. In addition, the electricity, gas and steam, air conditioning sector also gained traction in June.

On a monthly basis, industrial production rose 2.3% in June, contrasting May’s 0.8% dip. Moreover, annual average growth in industrial production edged up from 2.6% in May to 2.7% in June.

The FocusEconomics panel of analysts expects industrial output to expand 2.0% this year, which is unchanged from last month’s forecast. For 2020, the panel expects industrial production to increase 2.3%.


Author:, Economist

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