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).