Russia: Industrial production rebounds in January
February 15, 2018
Industrial activity swung to expansion in January, after two consecutive months of contraction. According to the Federal State Statistics Service (Rosstat), industrial output grew 2.9% year-on-year, which contrasted December’s 2.3% fall. The result was driven by a turnaround in the manufacturing and mining sectors.
The trend, however, failed to improve and annual average growth came in at 0.9%, unchanged from December. A month-on-month comparison revealed that industrial production gained ground as output rose 2.4% over the previous month in January (December: 0.4% month-on-month).