Russia: Industrial production moderates in December
January 15, 2012
In December, industrial production rose 2.5% over the same month the previous year, which was below both the 3.9% expansion recorded in November and market expectations of a 3.4% increase. A month-on-month comparison, however, does not corroborate the moderation suggested by the annual figures. In December, industrial production expanded a seasonally adjusted 0.1% over the previous month, which was unchanged from the increase recorded in November. Overall in 2011, annual average industrial production grew 4.7%, nearly halving the 8.3% expansion recorded in 2011. The government expects industrial production to expand 3.4% this year.
Author: Armando Ciccarelli, Head of Data Solutions