Russia: Industrial production growth falls to over one-year low in January
February 15, 2019
Industrial output growth decelerated in January, according to the Federal State Statistics Service (Rosstat). Industrial production increased 1.1% in annual terms, down from December’s 2.4% and the worst reading in over one year. The slowdown was driven by contracting manufacturing output, along with slower growth in mining and quarrying production.
Accordingly, annual average growth in industrial production ticked down from 2.9% in December to 2.8% in January. On a monthly basis, industrial production grew a meagre 0.1% in January, below December’s 0.3% increase.
Russia Industrial Production Forecast
The FocusEconomics panel of analysts expects industrial output to expand 1.9% this year, which is unchanged from last month’s forecast. For 2020, the panel expects industrial production to increase 2.2%.
Author: Angela Bouzanis, Lead Economist
