Russia: Industrial production speeds up in December
Latest reading: Industrial production was up 3.7% on a year-on-year basis in December, following 0.4% growth in the previous month. The latest reading was the strongest in a year.
Relative to the prior month’s figures, readings in December improved for manufacturing (+7.8% on a year-on-year basis vs +1.0% in November)—likely boosted by the start of several new civil manufacturing plants and the launch of new production lines—and electricity, gas, steam and air conditioning supply (-0.7% vs -3.4% in November). In contrast, readings worsened for mining and quarrying (-2.8% vs +0.4% in November) and water supply, sewerage, waste management and remediation activities (-6.2% vs -3.2% in November).
On a seasonally adjusted month-on-month basis, industrial production rose 2.3% in December, following a 0.5% fall in the previous month.