Russia: Industrial production expands at the fastest rate in five months in April
May 22, 2014
In April, industrial production expanded 2.4% over the same month last year. The result was up from the 1.4% growth recorded in March and marked the strongest expansion in five months. April's rise exceeded the 0.8% increase market analysts had expected. The acceleration in industrial production came on the back of the improvements that were registered in mining and quarrying as well as in manufacturing. Electricity, gas and water contracted in April, although at a slower pace. On a month-on-month seasonally-adjusted basis, industrial output expanded 0.8% in April (March: +0.2% month-on-month). Meanwhile, annual average growth in industrial production rose from 1.0% in March to 1.1% in April.