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Russian industrial production surges 10.4% in April


Post Date: 21 May 2010    Viewed: 453

Over the last month the Russian industrial production recorded a surge of 10.4 percent as compared with the same period last year, according to the latest statistics of the Federal State Statistics Service (Rosstat).


From January to April this year, Russia's industrial production also increased 6.9 percent year-on-year, said a report published on the Rosstat website on Wednesday.


Growth from coal, gas, steel and automobile sectors were comparatively fast, with the production of steel pipes and vehicles jumping 46 percent and 55 percent in first four months this year.


Some analysts believed the positive figures indicated an accelerating trend of Russian industrial growth, while others believed the figures meant nothing but restorative growth since the bases of last April and May were significantly low.


Russian Economic Development Minister Elvira Nabiullina announced on Thursday that the gross domestic product of the country and the industrial output increased 0.7 percent and 1.8 percent in April on a seasonally adjusted basis.


"This is a very good figure," said the minister as quoted by the Interfax news agency.


The Russian Economic Development Ministry announced on April 28 that the Russian economy was estimated to have grown 4.5 percent year-on-year in the first three months this year. However, Rosstat put the growth rate in the period at merely 2.9 percent.


Smashed by the global economic crisis, Russia saw its worst recession in a decade with the GDP shrinking 7.9 percent last year.


Russian Prime Minister Vladimir Putin said on April 20 that the country's economic recession has been over with signs of recovery, citing official forecast of the GDP growth at 3.1 percent in 2010, the preliminary results of industrial output growth of 5.8 percent and real disposable incomes growth of 7.4 percent in the first quarter.


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