CBR: October macroeconomic forecast upgrades 2024 growth, but will slow in 2025
23 hours ago
Russia’s industrial output grew 1.2% on the year and 10.3% on the month in March after rising 4.1% and 0.4% on the month in February, the Federal State Statistics Service said in a report on April 15.
The result was a slowdown after February’s surprisingly strong result. Russia’s manufacturing PMI index also put in a much better than expected result in February.
Output of the mineral resource industry grew by 4.3% on the year in March, of the processing industry by 0.3%, of water supply, wastewater treatment and waste recycling by 3.7%, and production of power, gas supply fell by 4.8%.
In January-March, industrial output grew 2.1%.
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CBR: October macroeconomic forecast upgrades 2024 growth, but will slow in 2025
The ranges of analysts’ forecasts for the next years have narrowed for most indicators. At the same time, the ranges for GDP growth, unemployment rate, RUB/$ exchange rate, exports, imports and Brent oil price are widening by the end of the period,
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Reports say some carry traders have closed lira positions, but the smooth nominal devaluation and real lira appreciation policy remains on track.
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