Russia’s industrial production in October declined by 5.9pc compared to October 2019 but grew by 3.8pc from the preceding month, according to data provided by the State Statistics Service Rosstat. Manufacturing declined at sharpest pace since May.
In the first ten months of the year (Jan-Oct, 2020), the country’s industrial output decreased by 3.1pc from the prior-year period.
Russia’s mining operations in October fell by 8.8pc from the preceding year but grew by 3pc from the prior month. In the Jan-Oct period, the volume of mining operations dropped by 6.6pc.
Metallurgical production volumes showed positive dynamics in October, increasing by 2.3pc as compared to the prior year and by 4.7pc from September. Manufacturing in Russia increased by 2.2pc in October from the previous month.
Non-ferrous and basic precious metals output in October grew by 7.3pc, while steel pipe, hollow section, and fittings’ production increased by 6.3pc as compared to the preceding month.
In the Jan-Oct period, the country’s finished rolled product output stood at 51mn mt, down by 0.7pc, while cold-rolled steel sheets’ production fell by 5.4pc to 6.54mn mt as compared to the prior-year period.
|Finished steel production||Oct 2019 (%)||Sep 2020 (%)|
|Rolled steel output||0.6pc||1.3pc|
|Cold-rolled steel sheets||-0.6pc||10pc|