Russia's Industrial Output Stagnates in August: Statistics

Industrial output in Russia slowed down to zero growth year-on-year in August compared to 1.5 percent growth last month, the country's Federal Statistics Service (Rosstat) reported Monday.

Counting out the seasonality factor, industrial production decreased by 0.8 percent after showing a 0.5-percent increase in July, according to Rosstat.

Meanwhile, Russia's Economic Development Ministry increased at the end of August its overall forecast of industrial growth in 2014 to 1.7 percent from a previous estimate of one percent.

In August, mining operations increased by 0.8 percent compared to August 2013, and to July 2014 - on 1.1 percent. From January to August this sector grew by 0.8 percent.

There was a slowdown in growth in the manufacturing sector in August - to 0.6 percent year-on-year, and to 1.2 percent month-to-month. However, in the January-August period manufacturing industries reported growth by 2.2 percent.

The production and distribution of electricity, gas and water in August year-on-year increased by 1.2 percent, compared to July - by 1.5 percent. And in the January-August period a decline of 1.9 percent was registered.

Rossiya Segodnya