Russia Industrial Output Growth Slows Sharply in March

Industrial production in Russia rose by 4% year-on-year in March 2024, slowing from an 8.5% growth in the previous month and coming slightly below market expectations of 4.2% increase.

Output slowed for manufacturing (6% vs 13.5%), utilities (4.1% vs 6.4%), and wastewater management (4.6% vs 6%).

On the other hand, it accelerated for mining activity (4% vs 2.1%).

On a seasonally adjusted monthly basis, industrial production soared by 8.5%.