Russian Railways cuts cargo handling growth forecast.

By bne IntelliNews February 21, 2013
Russian Railways cuts railway cargo transportation growth from previous 2.4%-2.5% to 0.7% in 2013 due to signs of economic slowdown, head of the company Vladimir Yakunin told the press. He added, however, that these were preliminary expectations and final target will be set in March. Reuters reminds that railway transportation is one of the main indicators of real sector's activity, as most of the cargo is transported this way. As reported this week, industrial output in January 2013 declined by 0.8% y/y, posting y/y decline for the first time in more than three years. Weak industrial output data was confirmed by transportation: it was 0.7% y/y smaller in January, with railroad transportation down by 7.3% y/y, according to RosStat. In 2012 railway transportation went up by 2.4% y/y to 1.27bn tonnes, still below pre-crisis 1.35bn tonnes seen in 2007.
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