Econ min: Industrial output rise to decelerate to 1.2–1.5% Oct–Dec

MOSCOW, Oct 16 (PRIME) – Russia’s industrial output growth will slow down to 1.2–1.5% on the year in October–December due to weak dynamics of the figures included in the purchasing managers’ indices (PMIs) and continuation of the OPEC plus nonmember oil output reduction deal, the Economic Development Ministry said in a statement on Wednesday.

“The figure for the third quarter grew by 2.9% year on year. At the same time due to the weak dynamics of the PMI indices and the continued OPEC plus oil output reduction agreement, deceleration of industrial output growth is expected at 1.2–1.5% on the year in the fourth quarter,” the document read.

The Federal State Statistics Service said that industrial production growth accelerated to 3% on the year in September from 2.9% in August but was 2.7% in January–September after 3% in the same period of 2018.

The ministry expects industrial production to rise 2.3% in 2019.

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