Manufacturing Growth is Recovering in Russia

From February 2014, speed-up of industrial growth rates has been registered. In May 2014, the industrial production index amounted to 102.8% and 101.7% as compared to May 2013 and January-May 2013, respectively.


According to the preliminary estimate, on the basis of the results of 2014 the expected industrial growth rates may be within the band of 102.0%–102.2%. Positive expectations are justified by recovery of growth in manufacturing: from Q4 2013 year on year acceleration of growth rates in manufacturing has been registered. In January-May 2014, output growth in manufacturing amounted to 103.4% against 98.9% a year before, while in May 2014, to 104.4% against 98.1% in May 2013.

In 2014, in manufacturing acceleration of growth rates of the consumer complex and goods of intermediary demand was observed. Moderate dynamics of the complex of production of capital goods points to the fact that low investment activity in the economy prevails.

According to the estimate of the Rosstat, in Q2 2014 the expected GDP growth rates will amount to 100.4%–100.6%.


Olga Izryadnova, Head of the Structural Policy Department