Russia's industrial production continues stagnation in October.

By bne IntelliNews November 18, 2013

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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Russian Gazprombank exits Europe's largest shopping mall

Russian state-controlled Gazprombank sold 30% in Aviapark Mall, one of the largest commercial properties in Europe, Vedomosti daily reported on October 18 citing unnamed sources close to ... more

Russian banks block accounts of SMEs

Russian banks have been actively blocking accounts of small and medium-size enterprises (SMEs) lately as a reaction to the tough banking sector environment, Vedomosti reported on October ... more

Alisa vs Alexa: Yandex launches Russian-language voice assistant

Russian online giant Yandex has launched a voice assistant, "Alisa", available on Android and iOS and, as a beta-version, on Windows, the company said on October 9. Based on neural networks ... more

Most Read

  1. Poland rises, Croatia surprises on CEE Fast 50
    5 days ago
  2. KRUK REPORT: Is Ukraine changing its Donbas policies?
    9 days ago
  3. Russia's grain harvest at 100-year high
    3 days ago
  4. Iraq says Russian oil deal with Kurdistan is illegal
    2 days ago
  5. Populist Ano scores heavy victory in Czech election, far right takes 11% of vote
    1 day ago
  1. Russia to bring in record breaking harvest of 127mn tonnes
    23 days ago
  2. Investors ask which Russian bank domino will be the next to topple
    29 days ago
  3. Eastern Europe’s blockchain revolution
    17 days ago
  4. INTERVIEW: de Villepin says Ukraine should declare itself neutral
    14 days ago
  5. INTERVIEW: The quiet thunder of Ruben Vardanian
    14 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss