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Russia: Industrial production improves in October

November 21, 2014

Industrial production in October expanded 2.9% over the same month last year, which marked a slight improvement compared to the 2.8% increase tallied in September and marked the strongest print in nearly two years. The reading beat the 1.5% increase the markets had expected and mainly reflected healthy growth in manufacturing production and in electricity generation. Conversely, the pace of growth in mining and quarrying moderated over the previous month.

A sequential comparison showed that industrial production in October gained a seasonally-adjusted 0.3% over the previous month, which followed the 1.7% rise observed in September.

As a result of the strong annual reading, the trend improved in October, with annual average growth rising from 1.5% in September to 1.6% in October.

FocusEconomics panelists expect industrial production to increase 0.9% in 2014, which is up 0.1 percentage points from last month’s forecast. In 2015, the panel sees industrial output increasing 0.7%, which is down 0.4 percentage points over the previous month’s Consensus.


Author:, Senior Economist

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Russia Industry October 2014 0

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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