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

By Reuters

<div> <p><span class="caps">MOSCOW</span> – 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.</p> <p>Analysts polled by Reuters had expected a 2.4% decrease in output year-on-year.</p> <p>Production of cars in Russia fell 80.6% year on year in July, Rosstat said.</p> <p>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%. </p> <p>Rosstat provided the following headline data and sector breakdown: </p> <p> Headline industry output July 22 June 22 July 21 </p> <p> yr/yr pct change -0.5 -2.4 +7.9 </p> <p> mth/mth pct change +1.8 +2.1 -0.1 </p> <p> Extraction of raw materials </p> <p> yr/yr pct change +0.9 +1.4 +11.6 </p> <p> mth/mth pct change +0.8 +1.7 +1.2 </p> <p> Manufacturing </p> <p> yr/yr pct change -1.1 -4.7 +5.1 </p> <p> mth/mth pct change +2.8 +5.0 -1.0 </p> <p> Production and distribution of </p> <p> electricity, gas </p> <p> yr/yr pct change -0.5 -0.2 +6.3 </p> <p> mth/mth pct change +2.2 -13.2 +2.4 </p> <p> Distribution of water, sewage </p> <p> yr/yr pct change -14.9 -15.7 +19.8 </p> <p> mth/mth pct change -6.8 -8.8 -7.7 </p> <p/> </div>