Industrial decline in Russia suddenly resumed

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Industrial production in Russia in July 2016 decreased by 0.3% compared with the same period last year.

This follows from the materials of Rosstat (Russia’s statistics agency – RRT), published on August 15th.

This is the first decline since March. Interfax says, that the decline was “unexpected”: analysts expected growth in industrial production in July by 0.9%.

In June, the industrial growth in Russia amounted to 1.7%, and was the highest since the beginning of the year, and it was almost twice higher than the forecast (0.9%). In May, industrial production increased by 0.7%, in April – by 0.5%, in February – by 1%, and in March and January it fell by 0.5% and 2.7%, respectively.

In general, in the first half of 2016, industrial production in the country increased by 0.3% in annual terms. The Ministry of Economic Development predicted that by the end of the year the domestic industry growth will be at zero, but in the middle of June the head of department Alexey Ulyukayev admitted that industrial production in the country could increase by 0.4-0.5%.

Source: slon.ru