Russia: Industrial production weakens in May
June 18, 2018
Industrial output eased in May, according to the Federal State Statistics Service (Rosstat). Industrial production grew 3.7% in annual terms, down from the upwardly revised 3.9% increase registered in April (previously reported: +1.3% year-on-year). The softer print came on the back of contractions in the water supply and the electricity, gas, steam and air conditioning sectors. In addition, growth in mining output eased in May.
Annual average growth edged down to 2.0% in May from a revised 2.3% in April (previously reported: +1.2% yoy). Month-on-month data also showed weaker output, with industrial production inching down to 0.5% growth in May from 0.6% in April.
Author: Lindsey Ice, Economist