Russia Industry June 2017

Russia

Russia: Industrial production growth slows in June

July 17, 2017

Industrial production lost steam in June, after growing at a multi-year high pace in May. Industrial output rose 3.5% year-on-year in June, almost halving from May’s 5.6% growth. June’s result reflected a broad-based deterioration across the components of the index, with manufacturing output slowing notably from May’s result.

The overall trend continued to pointed up, however, with annual average growth in output rising to 1.7% in June from 1.5%. Looking at a month-on-month comparison, industrial production contracted in seasonally-adjusted terms, falling 0.5% (May: +1.6% mom).

For this year, our panel of analysts expects industrial production to expand 1.6%, which is unchanged from last month’s forecast. For 2018, the panel expects industrial production to accelerate and increase 2.3%.


Author: Angela Bouzanis, Senior Economist

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Russia Industry June 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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