Russia: Industrial production slows in March

Industrial activity moderated in March, according to the Federal State Statistics Service (Rosstat). Industrial output grew 1.0% year-on-year, easing from February’s 1.5% increase. The decline was driven by falling output in the manufacturing sector. Meanwhile, mining output accelerated, and growth in the electricity, gas, steam and air conditioning sector picked up in March.

Annual average growth was unchanged from February in March at 1.3%. A month-on-month comparison revealed that industrial production rebounded marginally, as output rose 0.3% over the previous month (February: -1.3% month-on-month).

Russia Industry Forecast

The FocusEconomics panel of analysts expects industrial output to expand 1.6% this year, which is unchanged from last month’s forecast. For 2019, the panel expects industrial production to increase 1.9%.