Russia Industry October 2019

Russia: Industrial production growth loses pace in October

Industrial output rose 2.6% year-on-year in October, moderating from September’s 3.0% increase and marking the weakest result since May. The downturn reflected a marked cooling in mining sector activity, softer expansion in the electricity, gas and steam, and air conditioning supply sector, as well as a sharper contraction in the water supply and sewage sector. On a more positive note, momentum in the manufacturing sector continued strengthening at the outset of Q4, as output growth edged up to a six-month high in October, softening the overall downturn.

On a monthly basis, industrial production increased 0.3% in seasonally- and calendar-adjusted terms, swinging from September’s 0.1% dip. Meanwhile, annual average growth in industrial production inched down to 2.6% in October, from 2.7% in September.

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