Russia: Industrial production slows in March
Industrial activity moderated in March, according to the Federal State Statistics Service (Rosstat). Industrial output grew 1.0% year-on-year, easing from February’s 1.5% increase. The decline was driven by falling output in the manufacturing sector. Meanwhile, mining output accelerated, and growth in the electricity, gas, steam and air conditioning sector picked up in March.
Annual average growth was unchanged from February in March at 1.3%. A month-on-month comparison revealed that industrial production rebounded marginally, as output rose 0.3% over the previous month (February: -1.3% month-on-month).