FX.co ★ Russia Industrial Output Unexpectedly Falls for 2nd Month

Russia’s industrial output fell by 0.9 percent in February 2026, after a 0.8 percent decline in January, defying expectations of a 1.1 percent increase. Manufacturing activity shrank by 2.8 percent, following a 3 percent drop the month before, while raw material extraction grew by 0.9 percent, accelerating from a 0.5 percent rise. Overall industrial production in the first two months of the year was down 0.8 percent. Growth in Russia’s industrial output slowed to 1.3 percent in 2025, compared with a 5.1 percent expansion in 2024. The Economy Ministry currently projects a 2.3 percent increase in industrial output for 2026 and plans to revise its forecast in April.