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| Russia’s industrial production surges over 7% in April | Russia’s industrial production surges over 7% in April |
| (2 months later) | |
| Russia’s industrial production grew by 7.2% in April compared to the same period last year. It followed a rise of 2.3% in March, according to data from the Federal Service for State Statistics (Rosstat). | Russia’s industrial production grew by 7.2% in April compared to the same period last year. It followed a rise of 2.3% in March, according to data from the Federal Service for State Statistics (Rosstat). |
| Output during the first four months of the year increased by 1.1% in annual terms. | Output during the first four months of the year increased by 1.1% in annual terms. |
| Statistics show that production in the mining sector last month decreased by 1.8% compared to last year, down 1.4% from the previous month. Mining production between January and April was down 5.7% in annual terms. | Statistics show that production in the mining sector last month decreased by 1.8% compared to last year, down 1.4% from the previous month. Mining production between January and April was down 5.7% in annual terms. |
| Meanwhile, the manufacturing industry in April grew by 14.2% on an annualized basis after increasing by 5.4% in March. | Meanwhile, the manufacturing industry in April grew by 14.2% on an annualized basis after increasing by 5.4% in March. |
| “The high growth rates over the same period of last year are partly due to the fact that a number of enterprises limited production in April 2020 as a result of the imposed restrictive measures aimed at combating the coronavirus infection,” Rosstat said. | “The high growth rates over the same period of last year are partly due to the fact that a number of enterprises limited production in April 2020 as a result of the imposed restrictive measures aimed at combating the coronavirus infection,” Rosstat said. |
| “The decrease in volumes in the commodities sector totaled 1.8%. This is due to fulfillment of obligations to limit oil production under the OPEC+ deal and preventive maintenance work at infrastructure facilities in the oil and gas industry,” it added. | “The decrease in volumes in the commodities sector totaled 1.8%. This is due to fulfillment of obligations to limit oil production under the OPEC+ deal and preventive maintenance work at infrastructure facilities in the oil and gas industry,” it added. |
| According to the head of the Ministry of Industry and Trade, Denis Manturov, there’s been a recovery in many sectors of the manufacturing industry since the beginning of the year.“The auto industry is demonstrating very good growth rates of 13.7% in the first quarter and 41% in April,” he said. | According to the head of the Ministry of Industry and Trade, Denis Manturov, there’s been a recovery in many sectors of the manufacturing industry since the beginning of the year.“The auto industry is demonstrating very good growth rates of 13.7% in the first quarter and 41% in April,” he said. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |