Russia: Industrial production growth jumps to almost two-year high in February
Industrial output growth gained steam in February, according to the Federal State Statistics Service (Rosstat). Industrial production increased 4.1% in annual terms, up from January’s 1.1% and the best reading since May 2017. The acceleration was driven by a rebound in manufacturing output, along with faster growth in mining and quarrying production.
Accordingly, annual average growth in industrial production edged up to 2.9% in February from 2.8% in January. On a monthly basis, industrial production grew 1.2%, above January’s 0.2% increase.