Date: 5 days ago   Category: Industry

The MEDT explained sharp delay of growth rates of industrial production — Rambler News Service


Photo: Valery Matytsin/TASS of the Ministry of Economic Development (MEDT) was explained by sharp delay of growth rates of industrial production of the Russian Federation in March in comparison with April lack of a favorable calendar factor, follows from the review of the ministry "About dynamics of industrial production. April, 2019". "According to Rosstat, growth of industrial production in March, 2019 slowed down up to 1.2% of yoy after 4.1% of yoy in February. High growth rates in February partly were explained by a favorable calendar factor which in March was absent" — it is said in the document. The MEDT notes that annual dynamics of the processing industries in the I quarter 2019 improved up to 1.3% in annual terms after 0.9% in October-December, 2018. In general for the I quarter 2019 growth of industrial production was 2.1% of yoy after 2.7% of yoy in the IV quarter 2018. "The main contribution to decrease in annual growth rates was made by mining where growth of release slowed down up to 4.7% of yoy in January-March of the current year from record 7.2% of yoy in 4kv18. Delay of growth of release in the extracting complex was caused mainly by reduction in production of oil according to obligations assumed by Russia within OPEC" — noted the MEDT.

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