RosStat’s report on August base sectors and other fundamental indicators shows the continuation of the negative stagnation trend seen in H1. Capital investment continued to be negative: declining by 4% y/y in August alone and by 1.3% y/y in Jan-Aug overall (vs. EconMin’s expectations of 2.4% growth in 2013). Industrial output continued to fluctuate around 0% growth, inching up by 0.1% y/y in August.
Transportation in August ended two consecutive months of negative y//y growth posting 0.3% y/y increase in turnover. This is unlikely to result in higher industrial output in the early fall: railway transportation was still in decline of 2% y/y in August and 2.8% y/y in Jan-Aug overall. Slight growth of transportation in August is to be attributed to pipelines (up by 3.7% y/y in August, 1.3% y/y in Jan-Aug).
After jumping to 6% y/y growth due to favorable y/y base in July, in August construction declined by 3.1% y/y. Also retail trade, which throughout 2013 was the only resilient base sector slowed down: from 4.3% y/y in July to 4% y/y in August. Agriculture (which was previously cited by the authorities as one of the main factors that were supposed to support recovery in H2/13) also slowed down to 3.3% y/y growth.
|
Base Industries (%, y/y) |
2009 | 2010 | 2011 | 2012 | Dec-12 | Jan-13 | June | Aug | |
| Industry | -9.3% | 8.2% | 4.7% | 2.6% | 1.4% | -0.8% | -0.7% | 0.1% | |
| Construction | -13.2% | -0.6% | 5.1% | 2.4% | 1.6% | 1.4% | 6.1% | -3.1% | |
| Agriculture | 1.2% | -21.9% | 23.0% | -4.7% | 1.4% | 2.5% | 5.8% | 3.3% | |
| Transport | -10.1% | 6.9% | 3.4% | 1.7% | 0.9% | -0.7% | -1.1% | 0.3% | |
| Retail | -5.5% | 6.3% | 7.2% | 5.9% | 5.0% | 4.2% | 4.3% | 4.0% | |
| Source: RosStat |
Related Articles
China’s LNG imports slump for eighth month
China’s LNG imports have fallen on a year-on-year basis for the eighth consecutive month, Bloomberg reported on June 26 citing data from Kpler. Imports of the super-chilled fuel in the world’s ... more
Russian bomber crashes in Mali amid escalating conflict
A Russian-built Su-24M bomber operated by the Africa Corps crashed into the Niger River near Gao, Mali, shortly after an armed confrontation with separatist forces, representing a significant setback ... more
Russia to deepen ties with Africa in defence and investment, says Putin's spokesman
Russia intends to expand its cooperation with African countries significantly, placing particular emphasis on economic investment and security collaboration, Presidential Press Secretary Dmitry ... more