Russia Industry July 2017

Russia

Russia: Industrial production growth slows in July

August 16, 2017

Industrial production lost steam again in July, a second consecutive slowdown after growing at a multi-year high pace in May. Industrial output rose 1.1% year-on-year in July, more than halving from June’s 3.5% growth. July’s result reflected a contraction in manufacturing output and water supply production.

The overall trend inched down, with annual average growth in output falling to 1.6% from June’s 1.7%. Looking at a month-on-month comparison, industrial production contracted in seasonally-adjusted terms, falling 1.1% (June: -0.5% mom).

For this year, our panel of analysts expects industrial production to expand 1.7%, which is unchanged from last month’s forecast. For 2018, the panel expects industrial production to accelerate and increase 2.2%.


Author: Angela Bouzanis, Senior Economist

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Russia Industry July 2017

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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