Industry in Russia
Russia - Industry
Industrial production runs out of steam in March
Industrial output edged up 0.3% year-on-year in March, slowing markedly from the 3.3% increase in February and marking the weakest expansion since May 2019. As a result, annual industrial production growth eased to 1.5% in Q1 2020, from 1.8% in Q4 2019.
The downturn at the end of Q1 was broad-based. Growth in the all-important manufacturing sector nearly halved in March, thus spearheading the overall downturn. Moreover, mining and quarrying output contracted at the sharpest rate since our records began in 2014, amid increasing turmoil in global commodity markets. In a similar fashion, activity in both the electricity, gas, steam and air conditioning supply, and water supply and sewage sectors shrunk at a more rapid pace in March than in the previous month.
On a monthly basis, industrial production fell 1.3% in seasonally- and calendar-adjusted terms, reversing February’s 0.5% increase. Meanwhile, annual average growth in industrial production ticked down to an over three-year low of 2.1% in the final month of Q1, from 2.2% in February.
The FocusEconomics panel of analysts expects industrial output to fall 1.3% next year, which is down 3.7 percentage points from last month’s forecast. For 2021, the panel expects industrial production to increase 2.4%.
Russia - Industry Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 0.2 | 1.7 | 3.8 | 3.5 | 2.3 |
Russia Industry Chart
Source: Russian Federal State Statistics Service (Rosstat) and FocusEconomics calculations.
Russia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.23 | 0.13 % | Dec 30 |
| Exchange Rate | 62.03 | -0.12 % | Dec 30 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
-
Russia: Services PMI improves but remains entrenched in negative territory in April
May 6, 2022
The IHS Markit Services Purchasing Managers’ Index (PMI) rose to 44.5 in April from March's 38.1.
-
Russia: Manufacturing PMI rises but remains in negative territory in April
May 4, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) came in at 48.2 in April, up from March's 44.1.
-
Russia: Central Bank cuts rate by further 300 basis points to 14.00% at the end of April
April 29, 2022
At its monetary policy meeting on 29 April, the Central Bank of the Russian Federation (CBR) slashed its key interest rate by 300 basis points to 14.00%.
-
Russia: Industrial output records lowest growth in a year in March
April 28, 2022
Industrial output rose 3.0% compared to the same month of the previous year in March, as growth more than halved from February's 6.3% increase.
-
Russia: Inflation comes in at highest level since January 2002 in April
April 8, 2022
Consumer prices increased 1.56% over the previous month in April, below March's 7.61% increase.
© Copyright: 2022. | Russia Industry | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
