Russia Industry January 2018

Russia: Industrial production rebounds in January

Industrial activity swung to expansion in January, after two consecutive months of contraction. According to the Federal State Statistics Service (Rosstat), industrial output grew 2.9% year-on-year, which contrasted December’s 2.3% fall. The result was driven by a turnaround in the manufacturing and mining sectors.

The trend, however, failed to improve and annual average growth came in at 0.9%, unchanged from December. A month-on-month comparison revealed that industrial production gained ground as output rose 2.4% over the previous month in January (December: 0.4% month-on-month).

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