Russia's July industrial output down 0.5% y/y

Russia's July industrial output down 0.5% y/y
By Reuters
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MOSCOW - Russia's industrial output fell 0.5% in July compared with a year ago, and was up 1.8% in month-on-month terms, the state statistics service said on Wednesday.

Analysts polled by Reuters had expected a 2.4% decrease in output year-on-year.

Production of cars in Russia fell 80.6% year on year in July, Rosstat said.

Rosstat revised June's industrial output contraction to 2.4% from the 1.8% drop reported a month earlier. Rosstat also revised the output growth assessment of the first half of 2022 to 1.3% from 2.0%.

Rosstat provided the following headline data and sector breakdown:

Headline industry output July 22 June 22 July 21

yr/yr pct change -0.5 -2.4 +7.9

mth/mth pct change +1.8 +2.1 -0.1

Extraction of raw materials

yr/yr pct change +0.9 +1.4 +11.6

mth/mth pct change +0.8 +1.7 +1.2

Manufacturing

yr/yr pct change -1.1 -4.7 +5.1

mth/mth pct change +2.8 +5.0 -1.0

Production and distribution of

electricity, gas

yr/yr pct change -0.5 -0.2 +6.3

mth/mth pct change +2.2 -13.2 +2.4

Distribution of water, sewage

yr/yr pct change -14.9 -15.7 +19.8

mth/mth pct change -6.8 -8.8 -7.7

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