Russia: Industrial Production Growth

Russia’s industrial production showed signs of weakness in the second half of 2019. The industrial production index (IPI), seasonally and working-day adjusted, grew by 1.89% y/y in December 2019, slightly accelerating from 1.7% y/y in November 2019. Although the indicator inched up, it is still following a downward trend. 

The data breakdown reveals that mining and manufacturing sectors, which combined account for over 80% of the country’s industrial production, grew by 0.65% y/y and 2.48% y/y, respectively.

The annual industrial output grew by 2.35% in 2019, lower than the figure for 2018: 2.85%. The mining sector posted 2.5% growth rate, while the manufacturing sector increased by 1.8%.

Detailed data and analysis on Russia’s Industrial Production Growth will be coming soon to the Q4 Economic Snapshot suite as CEIC Russia Economy in a Snapshot – Q4 2019.