Russian industry resumed its decline

The index of industrial production in March 2016 has decreased in Russia compared to the first month last spring by 0.5%, follows from the materials of Rosstat. In February the industrial output for the first time this year has stopped the decline, rising by 1%. However, compared to the year of 2015 in February of the current year was not 28, but 29 days.

Earlier today, the experts of the Institute “development Center” Higher school of Economics (HSE) predicted that in March, the Russian industry will remain the situation on the brink of stagnation with little care less.

In the sphere of production and distribution of electricity, gas and water the decline in March was at an annual rate of deeper industry average minus of 0.8% versus minus 0.5%. And this despite the fact that back in January (in connection with a reduction in mean monthly temperatures), the sector showed growth of 2.5%, and in February she managed to stop herself from falling.

Industry mining production volumes increased in comparison with March 2015 by 4.2%. In particular, coal production in annual terms grew by 6.2%, oil — by 5.3% and non-metallic building materials — by 8%.

However, the improvement in the mining industry the performance of industry in overall output plus not have prevented the deepening recession in the manufacturing sector. (minus 2.8% versus minus in “slender” February). The highest rates in March 2016 reduced production of residual fuel oil (minus of 36.5% yoy), construction ceramic blocks (minus 33.8 percent), bricks (minus 18.2 per cent), machine tools (minus 26.9 percent) and cars (down by 25.9 per cent).

In 2015 compared with year 2014, industrial production decreased by 3.4%. The volume of production of manufacturing enterprises fell by 5.4%.