Russian 10-Month Industrial Output Up 2.8%

MOSCOW, November 16 (RIA Novosti) – Russia’s industrial production grew at an annual pace of 2.8 percent year-on-year in January-October, down from 2.9 percent in January-September, Russia’s state statistics agency Rosstat said on Friday.

“Industrial production in January-October 2012 was 2.8 percent higher compared with January-October 2011, while growth in October 2012 compared with October 2011 was 1.8 percent,” Rosstat said.

Industral production in October, excluding seasonal factors, shrank 0.7 percent in October compared to September after growing 0.6 percent the preceding month.

Including seasonal factors, Russian industrial output grew 3.7 percent on the previous month in October and 1.8 percent on the same month in 2011.

Deputy Economic Development Minister Andrei Klepach said his ministry could lower its industrial output growth forecast for 2012 to 3 percent from the current 3.6 percent, and did not rule out that the actual figure could fall below 3 percent by the end of the year.

Subsurface resource extraction in October rose 3.1 percent on the previous month (seasonal factors included), or an annualized 2.1 percent on the previous year. Subsurface resource extraction for January-October rose 1.3 percent year-on-year.

Manufacturing production rose 1.4 percent in October on the previous month, or an annualized 3 percent on the previous year. Manufacturing production for January-October this year rose 4.4 percent.

Electricity, gas and water production and distribution rose 25.3 percent on the previous month, or 0.6 percent in annualized terms, and rose 1.1 percent year-on-year for January-October 2012.


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