Russia: Industrial output slows down in December
January 23, 2013
In December, industrial production rose 1.4% over the same month the previous year, which was down from the 1.9% expansion recorded in November and came in below market expectations of a 2.0% rise. The deceleration was the result of slower growth in manufacturing and mining and quarrying, while electricity, gas and water rebounded to positive territory from a contraction in November.
On a month-on-month seasonally adjusted basis, industrial output grew 0.5%, inching down from the 0.6% increase seen in November. In the full year 2012, industrial production rose 2.6%, which compares with a 4.7% expansion in 2011 and marks the slowest expansion in almost three years.
The government expects industrial output to expand 3.6% in 2013.
Author: Armando Ciccarelli, Head of Data Solutions