Russia's industrial production growth slowed sharply to 0.3 percent year-on-year in November 2019, the weakest since December 2017, from 2.6 percent in the previous month and well below market forecasts of 2.6 percent. Manufacturing output edged up 0.1 percent (vs 3.7 percent in October) and production and distribution of electricity, gas was unchanged (vs 2.5 percent in October), while distribution of water, sewage slumped 8.9 percent (vs -6.7 percent in October). Meanwhile, extraction of raw materials grew 1.4 percent, faster than 0.9 percent in the previous period. On a monthly basis, industrial output was down 2.5 percent. Industrial Production in Russia averaged 3.40 percent from 2000 until 2019, reaching an all time high of 17.70 percent in April of 2000 and a record low of -16.90 percent in January of 2009. source: Federal State Statistics Service
Industrial Production in Russia is expected to be 2.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Russia to stand at 2.30 in 12 months time. In the long-term, the Russia Industrial Production is projected to trend around 3.20 percent in 2020, according to our econometric models.