Russian industrial growth accelerates to 2.9% in Oct - Rosstat
MOSCOW. Nov 19 (Interfax) - Russian industrial output grew 2.9% year-on-year in October, compared with growth of 2.8% in September, the Federal State Statistics Service (Rosstat) said.
Analysts told Interfax in a consensus forecast they thought there would be 1.6% growth in October.
Industry grew 0% in August, 1.5% in July, 0.4% in June, 2.8% in May, 2.4% in April, 1.4% in March and 2.1% in February but fell 0.2% in January.
Although industrial growth may have been unexpectedly high in September because there was one more working day than in the same month last year, while the reverse was true of August, no such factor was in play in October, when the number of working days was the same this year and last.
Industry grew 0.3% on a seasonally adjusted basis in October after rising 1.7% in September, falling 0.6% in August, rising 0.7% in July and falling 0.6% in June, Rosstat said, quoting adjusted data for previous months.
It grew 1.7% year-on-year in January-October, compared with 0.1% growth in the same period of last year, including 1.0% growth in October 2013.
For a second straight month, growth in October was driven by the manufacturing industry, which rose 3.6% year-on-year, as it did in September, after falling 0.4% in August and growing 2.4% in July. Manufacturing grew 2.4% year-on-year in January-October.
The extractive industry grew 1.9% in October, after rising 2.4% in September, 0.8% in August and 0.2% in July (1.1% in 10M).
Output in the utilities sector (electricity, gas water) rose 2.8% in October. It fell 0.8% in September, grew 1.2% in August and grew 0.8% in July (fell 1.3% in 10M).
Gas production fell 11.4% year-on-year on October (6.2% in 10M), oil production grew 0.2% (1.1%) and coal rose 2.9% (fell 1.5%).
Following the introduction of restrictions on food imports from several countries, output of cheese and cheese products rose 17.9% in October (11% in 10M), meat and variety meat - 14.8% (12%), poultry meat - 10.0% (7.7%), while production of fish and products from it fell 12.7% (down 5.2% in 10M).
Production of gas turbines jumped 90.8% in October, but decline 10% in 10M. Steel pipe production was up 31.2% in October (10.1% in 10M).
Car production fell 23.9% in October (down 6.2% in 10M).
Power generation rose 1.6% in October and declined 0.8% in 10M. Heat production was up 5.3% (down 2.6%).
The Russian Economic Development Ministry in August raised its 2014 industrial growth forecast from 1% to 1.7%.
Analysts told Interfax in a consensus forecast at the end of October that they thought 1.0% growth was possible for the year.