Russia: Industrial production growth decelerates in November
Industrial output growth lost momentum in November, according to the Federal State Statistics Service (Rosstat). Industrial production increased 2.4% in annual terms, down from October’s 3.7%. The deceleration was driven by stagnating manufacturing production.
Despite November’s slowdown, annual average industrial production growth edged up to 2.6%, above October’s 2.3% and the best result in one year. On a monthly basis, industrial production contracted 0.4%, contrasting October’s 0.3% increase.