Russia: Industrial production growth accelerates in July
Industrial output growth gained steam in July, according to the Federal State Statistics Service (Rosstat). Industrial production increased 3.9% in annual terms, up from June’s six-month low of 2.2%. The result was driven by rebounds in mining output and electricity, gas, steam and air conditioning supply.
Annual average industrial production growth rose to 2.2% in July, up from 1.9% in June. Month-on-month data corroborated improving economic conditions, with industrial production expanding 0.3% after falling 0.5% in June.