Bloomberg News

Russian January Industrial Output Rises 3.8%, Beating Forecasts

February 15, 2012

Feb. 15 (Bloomberg) -- Russian industrial-production growth accelerated last month, exceeding economist forecasts as manufacturing expanded.

Output rose 3.8 percent in January compared with a year earlier from 2.5 percent a month earlier, the Federal Statistics Service in Moscow said today in an e-mailed statement. The median forecast in a Bloomberg News survey of 17 economists was for growth of 2.7 percent.

The increase signals the resiliency of the world’s biggest energy exporter as Europe’s sovereign-debt crisis and slower growth in China threaten to damp demand for the country’s resources. Manufacturing may continue to support the economy after new car and light commercial vehicle sales advanced 20 percent in January.

“Consumer demand has remained fairly strong, judging from retail sales and lending,” Anna Bogdyukevich, an economist at OAO Gazprombank in Moscow, said today by telephone before the release. She forecast a 4.1 percent increase. “I think that will offer some support.”

--With assistance from Zoya Shilova in Moscow. Editors: Paul Abelsky, Torrey Clark

To contact the reporter on this story: Scott Rose in Moscow at rrose10@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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