Industrial production declined by 0.1% y/y and by 0.6% m/m in October, the data by RosStat shows. Since a decline of 1.4% y/y seen in May the growth of the indicator is close to zero.
In Jan-Oct overall, industrial production remained stagnant at 0.0% y/y vs. 2.8% y/y growth seen for the same period of last year. According to the previous report in Q3 industrial output was down by 0.1% y/y vs. 2.5% y/y growth for the same quarter of last year.
Industrial production was expected to bounce slightly from a decline in May. However, poor external demand, weak domestic spending, stalled investment and lately also uncertainty on how the government is going to address the current slowdown contributed to more pessimistic expectations. Since the end of H1/13 the industry balances between stagnation and recession.
In Jan-Oct, only extraction industries posted growth of 1.2% y/y (picking up slightly from 1% y/y in H1/12). Manufacturing and utilities industries contracted by 0.6% y/y and 0.3% y/y respectively. Oil extraction gained 0.8% y/y, natural gas extraction went up by 2.6% y/y, and coal mining declined by 2.9% y/y in Jan-Sep.
Related Articles
Ukraine faces a difficult choice over US peace deal talks: lose its dignity or lose a partner
Ukrainian President Volodymyr Zelenskiy recorded a video address to the nation saying Kyiv faces a difficult choice: the country could lose its dignity by accepting the plan, or it could refuse and ... more
Turkish LPG carrier set on fire during Russian drone attack
A Turkish LPG carrier docked at the port of Izmail, Ukraine, was hit by a Russian drone during an attack, sparking a fire on the vessel, which has now been extinguished. According to the Maritime ... more
Egypt and Russia finalise key agreements for Dabaa Nuclear Power Plant
Egypt has signed an agreement with Russia’s Rosatom to secure the nuclear fuel supply for Unit 1 of the Dabaa Nuclear Power Plant, Al Ahram reported on November 19. Officials said the agreement ... more
Most Read
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago
-
India’s smart metering push gains momentum
4 months ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago