Rosstat recorded the biggest drop in industrial production since January

Photo: Donat Sorokin/TASS

In September the index of industrial production in Russia fell in annual terms by 0.8%, cutting the recorded increase in August. The rate of decline of industry was highest in the last eight months

In the Russian industry was renewed downturn, which peaked in January 2016, follows from the materials of Rosstat. In September 2016, the industrial production index fell in annual terms by 0.8%. In comparison with August the index (with the exception of seasonal and calendar factors) has decreased by 0.3%.

The index blocked recorded in August, the increase (0.7% annualized) and has not allowed the industry to become profitable in the third quarter of 2016. For July—September 2016 the volume of production fell at an annual rate of 0.1 percent.

In January—September, 2016 the index of industrial production increased by 0.3%. However, in September, the pace of decline in industrial production was the highest in the past eight months. The last time faster industrial production declined only in January 2016 (minus 2.7%).

The reason for the September decline was the decrease in output at factories, factories and other enterprises related to the segment of manufacturing industries. In comparison with August 2015, the result fell by 1.6%, while mining and quarrying grew by 2.1%, while the production and distribution of electricity, gas and water — by 1.4%.

Steepest increase in September, gas production (+6.5% compared to the first month of autumn 2015) and nonmetallic materials (+6,8%) and sunflower oil (+15,9%), vodka (+10,1%), buses (+42.4 per cent) and tractors (more than twice). The fastest reduction in the production of suitcases and bags (minus 63.2 per cent), gas turbines (down by 57.9%), the ceramic blocks (minus 43.9 per cent) and diesel (minus 40%).

Earlier on Monday, Deputy economic development Minister Alexei Vedev said that the expectations on industrial production became more optimistic for the year is planned to increase by 0.4%. “The number of industries is growing at a solid pace positive — food, light, chemical, timber industry, manufacture of machinery and equipment, agriculture,” — said Vedev.

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