Russia: Industrial production decelerates further in April
May 18, 2011
In April, industrial production rose 4.5% over the same month last year, which was below both the 5.3% expansion recorded in March and market expectations of a 5.4% rise. In addition, the April reading marked the lowest pace of year-on-year expansion since November 2009. A month-on-month comparison corroborates the moderation suggested by annual figures, as industrial production expanded a seasonally adjusted 0.3%, down from the 0.7% increase recorded in March. Moreover, the trend deteriorated, with annual average growth in industrial production dropping from 7.6% in March to 7.2% in April, the lowest result since October last year. For 2011, the government expects industrial production to expand 5.4%, before moderating to a 3.6% clip the following year.
Author: Armando Ciccarelli, Head of Data Solutions