Russian industrial production dropped sharply again in December – by the most since at least 2003. Output was down 10.3 percent following an 8.7 percent fall in November, according to data from the Federal Statistics Service announced yesterday (Thursday) by central Bank Chairman Sergey Ignatiev. Output growth for the year was 2.1 percent, the slowest since at least 1999. br /br /a href=”http://4.bp.blogspot.com/_ngczZkrw340/SXnHod1_lII/AAAAAAAAMVY/OmOY6oKT5Zk/s1600-h/russia+manufacturing.png”img style=”display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 237px;” src=”http://4.bp.blogspot.com/_ngczZkrw340/SXnHod1_lII/AAAAAAAAMVY/OmOY6oKT5Zk/s400/russia+manufacturing.png” border=”0″ alt=”"id=”BLOGGER_PHOTO_ID_5294482334970516610″ //abr /br /Manufacturing fell an annual 13.2 percent in December, compared with a decline of 10.3 percent in November, as steel-pipe production dropped an annual 35.3 percent and coking coal output plunged 44.2 percent. Truck production plummeted 67.1 percent. br /br /This data is not surprising, and only confirms what we have been seeing in the VTB PMI. The next interesting data appointment will be on 2 February, when we should get to see what …

Russian industrial production dropped sharply again in December – by the most since at least 2003. Output was down 10.3 percent following an 8.7 percent fall in November, according to data from the Federal Statistics Service announced yesterday (Thursday) by central Bank Chairman Sergey Ignatiev. Output growth for the year was 2.1 percent, the slowest since at least 1999. br /br /a href=”http://4.bp.blogspot.com/_ngczZkrw340/SXnHod1_lII/AAAAAAAAMVY/OmOY6oKT5Zk/s1600-h/russia+manufacturing.png”img style=”display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 237px;” src=”http://4.bp.blogspot.com/_ngczZkrw340/SXnHod1_lII/AAAAAAAAMVY/OmOY6oKT5Zk/s400/russia+manufacturing.png” border=”0″ alt=”"id=”BLOGGER_PHOTO_ID_5294482334970516610″ //abr /br /Manufacturing fell an annual 13.2 percent in December, compared with a decline of 10.3 percent in November, as steel-pipe production dropped an annual 35.3 percent and coking coal output plunged 44.2 percent. Truck production plummeted 67.1 percent. br /br /This data is not surprising, and only confirms what we have been seeing in the VTB PMI. The next interesting data appointment will be on 2 February, when we should get to see what …