Russia: Industrial production growth drops in March
April 15, 2019
Industrial output growth plunged in March, according to the Federal State Statistics Service (Rosstat). Industrial production increased 1.2% in annual terms, down notably from February’s 4.1% which had marked the best reading since May 2017. Stagnating manufacturing output drove the deceleration along with a deeper fall in production of electricity, gas and air conditioning.
Accordingly, annual average growth in industrial production down to 2.8% in March from 2.9% in February. On a monthly basis, industrial production contracted 0.6%, contrasting February’s 1.2% increase.