Fédération de Russie Production Industrielle

Industrial production in Russia advanced by 4.8% year-on-year in October 2024, up from a 3.2% rise in September and above market expectations of a 3% increase. This was the strongest expansion in industrial activity since May, prompted by massive government spending and military production tied to the war effort. Output growth accelerated for manufacturing (9.6% vs 6.6% in September), notably radar, radio navigation and remote control equipment (+78.8%); particle boards and similar boards made of wood or other woody materials (+67.8%) and passenger cars (+54.1%). On the other hand, production eased in electricity, gas production and distribution (1% vs 1.7%), while declines were seen for raw material extraction (-2% vs -1.8%) alongside water distribution, sewage (-1.4% vs -3.1%). Monthly, industrial output jumped by 6.6% in October, the most in seven months. Year-to-date, industrial production grew by 4.4% compared to the same period a year ago.