26 Apr 2023 19:21

Russian industrial output grows for first time in a year in March by 1.2%, falls 0.9% in Q1 - Rosstat

MOSCOW. April 26 (Interfax) - Russian industrial output rose in March for the first time in a year, rising 1.2%, the State Statistics Service (Rosstat) said.

Output fell 1.7% in February and 2.4% in January. It last rose in March 2022, by 2.3% year-on-year.

Output fell 0.9% year-on-year in January-March 2023.

Analysts predicted in a consensus forecast for Interfax at the start of April that industry had fallen 1.4% in March.

Adjusted for seasonal and calendar factors, industry rose 1.3% in March and 0.6% in February after falling 0.6% in January.

Output rose in manufacturing, by 6.3% year-on-year in March from a low base last year - it fell 0.7% in March 2022 as this was the sector most affected by sanctions imposed on Russia. The March 2023 growth was the first since February last year. Manufacturing grew 1.1% year-on-year in Q1 2023.

Output fell in mineral extraction, by 3.6% year-on-year in March 2023 from a high base in March 2023, when it grew 6.7%. The March decline increased from 3.2% in February 2023. There was a drop of 3.3% for Q1 2023.

Output fell in energy utilities - electricity, heat and gas - by 4.0% year-on-year in March 2023 after rising 2.7% in February, and fell 0.2% in Q1 2023; output fell 13.3% in in water utilities in March after falling 9.4% in February, the Q1 drop being 10.2%.