Russia Industry June 2018

Russia

Russia: Industrial production growth slides to six-month low

July 16, 2018

Industrial output growth eased in June, according to the Federal State Statistics Service (Rosstat). Industrial production increased 2.2% in annual terms, down from the 3.7% rise registered in May and the softest print since December. The result was driven chiefly by a contraction in mining output and weaker growth in manufacturing output.

Annual average industrial production growth inched down to 1.9% in June from 2.0% in May. Month-on-month data corroborated deteriorating economic conditions, with industrial production contracting 0.6% (May: +0.5% month-on-month).

The FocusEconomics panel of analysts expects industrial output to expand 2.2% this year, which is up 0.2 percentage points from last month’s forecast. For 2019, the panel expects industrial production to increase 1.9%.


Author: Angela Bouzanis, Senior Economist

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Russia Industry June 2018

Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Federal State Statistics Service (Rosstat) and FocusEconomics calculations.


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