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RIA Novosti

Russia

Russia's industrial output down 14.9% in Jan.-Apr.

17:50 18/05/2009
MOSCOW, May 18 (RIA Novosti) - Russia's industrial output declined 14.9% in January-April, compared with growth of 6.9% in the same period of last year, the state statistics service Rosstat said on Monday.

Industrial output shrank 16.9% in April year-on-year and 8.1% month-on-month, Rosstat said.

Since the start of the economic crisis in Russia last October, industrial output has fallen for six consecutive months, compared with the same periods of last year.

Russia's Economics Ministry earlier said domestic industrial output could decline by as much as 9% in 2009.

Rosstat announced on Friday that the country's GDP had fallen 9.5% in the first quarter, year-on-year, and 23.2% on the fourth quarter of 2008.

The Economics Ministry earlier attributed the contraction to a slump in construction (a decline of about 20%), lower tax intake, and falling investment and retail trade.

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