Russia: Industrial output growth ebbs in August
Latest reading: Industrial output growth slowed to 2.7% year on year in August from July’s 3.3% increase. The reading marked the joint-weakest result since March 2023. Looking at the details of the release, water supply swung into contraction, and manufacturing output and energy production lost momentum, outweighing a rebound in mining and quarrying.
As a result, the trend pointed down, with the annual average growth of industrial production coming in at 4.8% in August, down from July’s 5.1%.
On a seasonally adjusted monthly basis, industrial production rebounded, rising 0.8% in August (July: -0.8% s.a. mom).