Russia: Industrial output growth gains steam in August
Industrial output rose 5.4% compared to the same month a year earlier in August, which was above July’s 4.9% increase. The upturn came on the back of an improvement in manufacturing and mining and quarrying output.
On a monthly basis, factory output fell 0.3% in seasonally adjusted terms in August, which was below July’s 0.1% fall and marked the worst result since January. Meanwhile, annual average industrial production growth rose to 1.5% in August (July: +1.1%), signaling an improving trend in the industrial sector.