Russia Industry March 2017

Russia

Russia: Industrial production rebounds in March

March 17, 2017

Industrial production rebounded in March, following what seems to have been a temporary contraction in February. Industrial output increased just 0.8% year-on-year in March, which contrasted a 2.7% contraction in February. A month-on-month comparison corroborated the improvement suggested by the annual data as industrial production swung from a seasonally-adjusted 1.5% contraction in February to a 1.2% expansion in March.

March’s result reflected a broad-based improvement. Both manufacturing output and electricity generation returned to growth in March after having contracted sharply in February. Moreover, after recording nil growth in February, mining and quarrying increased somewhat in March.

March’s result prompted the overall trend growth to stabilize, following February’s drop. Annual average growth in output matched February’s 1.1% in March.

For this year, the panel of analysts expects output to expand expect industrial production to expand 1.5%, which is unchanged from last month’s forecast. For 2018, the panel expects industrial production to accelerate and increase 2.1%.


Author:, Senior Economist

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Russia Industry March 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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