Russia’s Seven-Month Industrial Output Up 3.2%

Russia’s industrial production grew 3.2 percent year-on-year from January to July 2012, with annualized growth accelerating to 3.4 percent in July from 1.9 percent in June, the Federal State Statistics Service Rosstat reported on Wednesday.

Excluding seasonal and calendar factors, Russian industry resumed growth, with output expanding 0.9 percent in July on the previous month, when growth stagnated.

Output in the mining industry grew 3.8 percent in July compared to June (seasonal factors included) after a 2.2 percent slump in June on May. Annualized growth stood at 0.9 percent in July and the same 0.9 percent in January-July 2012.

Output growth in manufacturing accelerated to 1.2 percent in July from 1 percent in June. On an annualized basis, manufacturing production expanded 5.7 percent in July and 4.9 percent in January-July 2012.


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