Russian industrial output growth quickens to 6.5% in Feb - Rosstat
MOSCOW. March 16 (Interfax) - Industrial output in Russia in February grew 6.5% year-on-year, picking up speed from 3.8% in January and 2.5% in December, the Federal State Statistics Service (Rosstat) reported on Friday.
That December figure was the lowest for the last two years.
Analysts had expected a less substantial quickening of February industrial output growth. According to an Interfax consensus forecast, analysts had been expecting industrial output in the country to grow 4.5% last month.
Excluding seasonal and calendar factors, output in February was up 1.6% month-on-month after increasing 0.5% in January and 0.2% in December.
In January-February 2012, industry grew 4.9% compared with the same two months last year (6.3% in January-February 2011, and 5.8% in February 2011).
There was substantial year-on-year growth in the utilities sector in February - 6.7% after a dip of 0.2% in January.
February growth in manufacturing also quickened - to 6.3% from 4.8% in January, in the production of recoverable subsurface resources - 3.7% from 1.4%.
Car production in February rose 24.3% and truck production 23.4%. Gasoline output rose 13.2% year-on-year in February.
The production of oil and gas condensate increased 5.6% year-on-year in February, that of gas - 4.7%, and of coal - 5.3%.
Russia produced 8% more electrical power in February and 6.2% more thermal energy.
The Economic Development Ministry projects industrial output will expand 3.4% this year. A consensus forecast compiled by Interfax at end-February indicated that analysts expect 3.5% growth.
Russian industrial output grew 4.7% in 2011.