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Business

Moscow expects sharp fall in industrial output

Latest update : 2009-03-18

The Russian government forecasts a 7.4% fall in the country's industrial output in 2009, with metal production estimated as taking the biggest hit. Last year, industrial output grew by 2.1%.

AFP - Russian industrial production is forecast to plunge 7.4 percent in 2009 after falling 13.2 percent in February alone on a 12-month comparison, the government said on its website on Wednesday.
  
Metal production, building materials and machinery would be hardest hit, it said.
  
Industrial output grew by a sluggish 2.1 percent in 2008, slowing sharply from 6.3 percent the previous year, according to the federal statistics agency Rosstat.
  
In January this year it fell by a massive 16 percent compared to the same month a year ago, the sharpest decline in 15 years, the government said.
  
Wednesday's statement came on the eve of a government meeting to review economic forecasts for this year.

Date created : 2009-03-18

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