Russia: Industrial production loses steam in February
Industrial activity decelerated in February, according to the Federal State Statistics Service (Rosstat). Industrial output grew 1.5% year-on-year, which was below January’s 2.9% rise. The result was driven by slower output growth in the manufacturing and mining sectors.
The trend, however, improved in February and annual average growth came in at 1.5%, above January’s 0.9%. A month-on-month comparison revealed that industrial production lost ground as output fell 1.3% over the previous month in February (January: +2.4% month-on-month).