Russia: Industrial production growth slows in September
October 17, 2017
Industrial production lost steam in September, expanding a moderate 0.9% year-on-year. The result was below August’s 1.5% expansion and undershot the 1.0% increase that market analysts had expected. Behind the slowdown, was a downturn in mining production, which swung to contraction. Electricity, gas, steam and air conditioning output also fell in September.
The overall trend inched up with annual average growth coming in at 1.7% in September, above August’s 1.6%. Looking at a month-on-month comparison, industrial production contracted 0.4% in September, contrasting August’s 0.5% increase.