Russia: Industrial production picks up
December 15, 2011
In November, industrial production rose 3.9% over the same month last year, which was above both the 3.6% expansion recorded in October and market expectations of a 3.6% increase. A month-on-month comparison, however, does not corroborate the improvement suggested by the annual figures. In November, industrial production expanded a seasonally adjusted 0.1% over the previous month, which was down from the 0.8% increase recorded in October. Despite the November increase, the trend deteriorated, with annual average growth in industrial production dropping from October's 5.3% to 5.1% in November. The government expects industrial production to expand 3.4% this year, following an estimated 4.8% for 2011.
Author: Armando Ciccarelli, Head of Data Solutions