Russia Industry December 2017


Russia: Industrial production contracts again in December

January 23, 2018

Industrial activity contracted for a second consecutive month in December, according to the Federal State Statistics Service (Rosstat). Industrial output fell 1.5% annually, which followed November’s multi-year low of a 3.6% decrease. The result was driven by across-the-board declines in all sub-sectors of the index. The downturn in the manufacturing sector was particularly sharp.

The trend continued to point down, and annual average growth came in at a fifteen-month low of 0.9% in December (November: +1.0%). A month-on-month comparison revealed that industrial production gained ground, however, as output rose 0.4% over the previous month (November: -1.4% month-on-month).

Next year, the FocusEconomics panel of analysts expects industrial output to expand 2.0%, which is unchanged from last month’s forecast. For 2019, the panel expects industrial production to also increase 2.1%.


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Russia Industry Chart

Russia Industry December 2017

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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