The growth of industry production is 1.5% in Russia

This data was provided by Russian Statistics department and it includes the first half-year of 2014.

17.Jul.14 10:21 AM
By Mikhail Prygunov
Photo sibcontrols.com

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The growth of industry production is 1.5% in Russia

According to official statistic the growth of industry production in Russia is 1.5% during the first half-year of 2014 which is higher in comparison with the first half-year in 2013. The growth decreased up to 0.2% in during the period from January to July. However it increased in the second half-year of 2013 up to 1.7%.

If we compare these two years, we will have the following picture: June – 0.4%, may – 2.8%, April – 2.4%, March – 1.4%, February – 2.1%, January – 0/25. In other words the growth of industry production is not stable and it can decrease any time. Such situation turned out to be real surprise for experts. They expected the overall growth percentage about 1.6%. If we exclude several factors which influence this data including season and others, it will be obvious that overall industrial production growth has decreases by 0.8%.

Ministry of Finance and Economic Development of Russia has been already forced to lower the level of the expectations regarding future growth of industry production from 2.2% to 1% in May.

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