Russia’s industrial production increased 2.4 percent year-on-year in November of 2018, easing from a 3.7 percent rise in the previous month and missing market expectations of 3.5 percent. Manufacturing output showed no growth, after a 2.7 percent advance in the previous month while production went up faster for extraction of raw materials (7.8 percent from 7.4 percent) and distribution of water (7 percent from 4.8 percent). Meanwhile, electricity production rebounded 2.4 percent (from -3.2 percent in October). On a monthly basis, industrial output decreased 0.2 percent, down from a 5.8 percent gain in October. Industrial Production in Russia averaged 3.46 percent from 2000 until 2018, reaching an all time high of 17.70 percent in April of 2000 and a record low of -16.90 percent in January of 2009.
Industrial Production in Russia is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Russia to stand at 3.20 in 12 months time. In the long-term, the Russia Industrial Production is projected to trend around 3.20 percent in 2020, according to our econometric models.