FX.co ★ Russia Factory Output Growth Quickens, Beats Forecasts

In April 2025, Russia experienced a 1.5% year-on-year increase in industrial production, marking an acceleration from a 0.8% rise in March and exceeding market expectations of a 1.1% increase. This represents the most significant growth in industrial activity since January, largely driven by the manufacturing sectors of pharmaceuticals, electronics, and finished metal products. Furthermore, there was a notable recovery in electricity and gas supply output, which rose by 2.3% compared to a previous decline of 2.1%. However, production continued to fall in the water and sewage services sector, dropping by 3.3% versus a prior 1.4% decrease, and in raw material extraction, which showed a minor decline of 0.1% following a 4.1% dip. On a month-to-month basis, industrial output fell by 4.2% in April, after experiencing a 9.5% surge in March. Over the first four months of 2025, Russian industrial production increased by 1.2%, showing a marked decrease from the 5.1% growth recorded during the same timeframe the previous year.