Russia: Industrial output growth ticks up in September
Industrial output, in annual terms, increased 3.0% in September, marginally up from August’s 2.9% year-on-year rise. The reading largely reflected a pick-up in the growth of manufacturing output and a faster acceleration in the electricity, gas and steam, and air conditioning supply sector. This more than offset a slowdown in growth of mining output and a contraction in the water supply and sewage sector.
On a monthly basis, industrial production fell 0.1% in seasonally- and calendar-adjusted terms, contrasting August’s 0.6% rise. Meanwhile, annual average growth in industrial production inched up from 2.6% in August to 2.7% in September.