Seasonally adjusted industrial growth in Russia could be 0.4% in Sept - minister
SOCHI. Sept 16 (Interfax) - Seasonally adjusted industrial growth in Russia could be 0.4% in September, Economic Development Minister Elvira Nabiullina told reporters.
"Industry is up 6.2% in annual terms and 0.4% on a seasonally adjusted basis," she said.
The Federal State Statistics Service (Rosstat) has estimated seasonally adjusted industrial growth at 0.2% in September.
"This is good. It is not bad considering that last month [July] seasonally adjusted industrial growth fell 0.2%," the ministry said.
Industry was up 5.4% year-on-year in January-August, the minister said.
The Economic Development Ministry recently lowered the industrial production growth forecast for 2011 to 4.8%, but Nabiullina said "we do not expect a serious slow down at the end of the year." This is largely attributed to the base effect in the third and fourth quarters, she said.