Russia: Industrial production surges in May
June 19, 2017
Industrial production soared in May, building on April’s gains. Industrial output rose 5.6% year-on-year in May, which marks a substantial improvement from April’s 2.3% expansion. This marks the best result in four months. May’s improvement partly reflected stronger mining production, which grew at the fastest pace in over a year. In addition, manufacturing output grew notably, while output of electricity power, gas and steam and air conditioning decelerated from the previous month.
The overall trend pointed up, with annual average growth in output rising to 1.5% in May from 1.2%. Looking at a month-on-month comparison, industrial production accelerated from a seasonally-adjusted revised 0.8% expansion in April (previously reported: +1.3% mom) to a 1.6% increase in May.