15 Sep 2010 16:35

Russian industrial growth accelerates to 7% in Aug, above forecast

MOSCOW. Sept 15 (Interfax) - Russian industrial output growth accelerated to 7% in August from 5.9% in July, 9.7% in June and 12.6% in May, the Federal State Statistics Service (Rosstat) said.

The August growth was higher than the 6.1% that analysts predicted in a consensus forecast for Interfax at the end of that month.

Seasonally adjusted growth was 0.1% in August, compared with decline of 0.2% in July and 0.6% in June.

Output grew 9.2% year-on-year in January-August 2010. It plummeted 13.5% in January-August 2009, including by 10.7% in August 2010.

Output accelerated in the manufacturing sector in August 2010, despite the heat wave, to 11% from 8% in July. However this fell short of the growth of 14% seen in June and 18.7% in May this year.

The extractive sector grew just 0.6% in August, compared with 2.7% in July, 4.4% in June and 5.4% in May.

Output in the utilities sector rose 4.4% in August, up from growth of 2.5% in July, 2.3% in June and 4.1% in May.