Industrial Output Up 7.8% yoy in 1Q08
11 April 2008
According to the State Statistics Committee, industrial output increased 7.8% yoy in 1Q08 (versus 12.9% yoy in 1Q07). The major driver of the growth was machinery (+33.3% yoy), which continued to ride booming demand domestically and within the CIS. The pace, however, was substantially restrained by a slump in the oil refining sector, down 40.2% yoy.
