Industry in Russia
Russia - Industry
Industrial production picks up pace in December
Industrial output rose 2.1% year-on-year in December, accelerating from November’s meagre 0.3% increase which had marked the weakest result since December 2017.
December’s acceleration was spearheaded by a notable upturn in the manufacturing sector. Furthermore, the mining sector continued to gain momentum while contraction in water supply and sewage activities softened significantly compared to the previous month. On a less positive note, electricity, gas, steam and air conditioning supply dipped for the first time in nine months in December, likely amid warmer than usual weather.
On a monthly basis, industrial production edged up 0.2% in seasonally- and calendar-adjusted terms, rebounding from November’s 0.6% dip. Meanwhile, annual average growth in industrial production remained stable at November’s 2.4%.
Industrial production should gain some traction ahead, as argued by Dmitry Dolgin, chief Russia economist at ING:
“Looking into 2020, we see scope for acceleration in the industrial output growth, mainly thanks to the expected increase in the budget support. […] For now, we keep our previous expectations of industrial output accelerating to 2.7% in 2020 and see some upside risks to this forecast if the government confirms plans to accelerate spending.”
The FocusEconomics panel of analysts expects industrial output to expand 2.5% this year, which is up 0.1 percentage points from last month’s forecast. For 2021, the panel also expects industrial production to increase 2.5%.
Russia - Industry Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 0.4 | 1.6 | -0.8 | 2.1 | 2.2 |
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 |
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Economic News
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Russia: Industrial production picks up pace in December
January 23, 2020
Industrial output rose 2.1% year-on-year in December, accelerating from November’s meagre 0.3% increase which had marked the weakest result since December 2017.
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Russia: Consumer confidence remains firmly entrenched in negative territory in Q4
January 17, 2020
The fourth-quarter consumer confidence index published by the Federal Statistics Service (Rosstat) on 17 January was stable at the third quarter’s minus 13 points.
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Russia: Inflation falls to 17-month low in December
January 10, 2020
In December, consumer prices rose 0.4% over the previous month, up slightly from November’s 0.3% climb.
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Russia: Services PMI drops in December, while manufacturing PMI gains some ground
January 2, 2020
The IHS Markit Russia Services Business Activity Index came in at 53.1 in December, down from November’s 55.6.
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Russia: Growth accelerates in Q3 on firmer domestic demand
December 30, 2019
Annual growth accelerated to 1.7% in the third quarter of 2019, as revealed by the third estimate of national accounts data released by Rosstat on 30 December.
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