Russia's industrial production rose 3.3 percent from a year earlier in June 2019, following a 0.9 percent growth in the previous month and easily beating market consensus of 2 percent. Manufacturing output jumped 3.4 percent, recovering from a 1 percent drop in May; and production and distribution of electricity, gas increased 2.5 percent, faster than 1.8 percent in the previous month. Meanwhile, extraction of raw materials advanced at a softer 2.3 percent (vs 2.8 percent in May), while distribution of water, sewage slumped 1.8 percent (vs 0.8 percent in May). Industrial Production in Russia averaged 3.43 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.
Industrial Production in Russia is expected to be 3.20 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 2.50 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.