Russia: Industrial production picks up in August
September 15, 2011
In August, industrial production rose 6.2% over the same month last year, which was above the 5.2% expansion recorded in July and overshot market expectations of a 5.5% increase. In addition, the reading marked the strongest expansion in industrial production since January this year. A month-on-month comparison, however, does not corroborate the acceleration suggested by the annual figures. In August, industrial production expanded a seasonally adjusted 0.2% over the previous month, which was well below the 0.4% increase recorded in July. That said, the trend remained stable, with annual average growth in industrial production unchanged at July's 5.8%.
Author: Armando Ciccarelli, Head of Data Solutions