The growth of industrial production in Russia ahead of forecast


The growth of industrial production in Russia in August 2011 accelerated to 6.2% year-on-year after increasing 5.2% in July, 5.7% in June, 4.1% in May, 4.5% in April, 5 , 3% in March, 5.8% in February and 6.7% in January, the Federal State Statistics Service (Rosstat).

Compared with July 2011, industrial production in absolute terms increased by 1.1%, while the seasonal and calendar factors — by 0.2% (after rising 0.4% in July). In January-August 2011, industrial production in Russia grew by 5.4% (in January-August 2010 — by 9.2%, including in August at 7%).

Industrial output growth in August was well above economists’ forecasts — the consensus forecast, prepared by "Interfax", was equal to 5.3%.

The growth of manufacturing industries in August 2011 accelerated to 7.1% in annual terms, after rising by 5.5% in July.

And accelerated growth in the field of mining — in August it was 3.3% for the same month of 2010 after increasing 1.8% in July.
The increase in production and distribution of electricity, gas and water also accelerated in July — to 2.3% from 1.9% in July.

Oil and gas condensate in January-August amounted to 338 million tons, which is 0.8% more than in January-August 2010 (in August, an increase of 1.7%), gas — 442 billion cubic meters — an increase of 5 , 1% (in August, an increase of 5.6%), coal — 211 million tons, an increase of 1.8% (in August — an increase of 4.7%), iron ore — 68.4 million tons, an increase of 7 , 9% (in August — an increase of 7.4%).

Electricity production in Russia in January-August 2011 amounted to 683 billion kWh, which is 1.5% more than in January-August last year (in August, an increase of 1.3%), and heat — 837 million Gcal, reduced 1.6% (August increase of 3.2%).
Increased their production of thermal and nuclear power plants. Production at thermal power plants increased by 3% compared to last year — up to 459 billion kWh, at nuclear power plants — by 1%, to 111 billion kWh Hydroelectric power plants have cut production by 3.5% — up to 112 billion kWh

Heat production in January-August this year amounted to 837 million Gcal, which is 1.6% lower than a year earlier. In August, the heat production increased by 3.2% in August last year.

Production of passenger cars in Russia in January-August 2011 increased compared to the same period last year by 61.4% to 1.1 million units.
Production of trucks (including chassis, except for dump trucks) for 8 months increased by 47%, to 128 thousand buses — by 2% to 23.5 million
Compared with July 2011, in August 2011 raised by 4.3% more cars, compared to August 2010, the growth was recorded at 46.4%

Russia in January-August 2011 increased the production of most foods other than milk, baked goods, juices.

According to Rosstat, the production of meat and edible offal of 8 months was 755 thousand tons, which is 4.3% more than in the corresponding period last year. Poultry production increased by 8.7% — to 1.9 million tonnes of sausages from heat-processed ingredients — by 5.2% (to 61.9 thousand tons), other meat products — by 4% (to 1,000,000 tons).

According to state statistics, the production of fish and their products it reached 2.4 million tons, which is 7.4% more than in January-August 2010. Development of flour increased by 1.8% — to 5.8 million tons of sugar from raw sugar — by 25.3% (to 2.4 million tonnes).

At the same time, the dairy enterprises over 8 months of this year have reduced milk production (processed) by 0.8% — to 3.2 million tons of yogurt — 3.3% (up to 709 thousand tons). Manufacture of fruit and vegetable juices was 1.7 billion cans, which is 9.7% less than in January-August last year.

Ministry of Economic Development predicts growth of industrial production in Russia in 2011 at 4.8%, the consensus forecast, prepared by "Interfax" at the end of August 2011, is 5%.

In 2010, the industrial production growth in Russia amounted to 8.2% after falling 9.3% in 2009.

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