Industry in Russia

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Russia - Industry

Industrial production growth loses pace in October

Industrial output rose 2.6% year-on-year in October, moderating from September’s 3.0% increase and marking the weakest result since May. The downturn reflected a marked cooling in mining sector activity, softer expansion in the electricity, gas and steam, and air conditioning supply sector, as well as a sharper contraction in the water supply and sewage sector. On a more positive note, momentum in the manufacturing sector continued strengthening at the outset of Q4, as output growth edged up to a six-month high in October, softening the overall downturn.

On a monthly basis, industrial production increased 0.3% in seasonally- and calendar-adjusted terms, swinging from September’s 0.1% dip. Meanwhile, annual average growth in industrial production inched down to 2.6% in October, from 2.7% in September.

The FocusEconomics panel of analysts expects industrial output to expand 2.5% next year, which is up 0.2 percentage points from last month’s forecast. For 2021, the panel expects industrial production to increase 2.6%.

Russia - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)0.4  1.6  -0.8  2.1  2.2  

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Russia Industry Chart

Russia Industry
Note: Annual variation of industrial production in %.
Source: Russian Federal State Statistics Service (Rosstat) and FocusEconomics calculations.

Russia Facts

Bond Yield6.380.13 %Nov 21
Exchange Rate64.02-0.12 %Nov 21
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