Russia’s industrial output rises 7.8 percent in January as recovery gains momentum

Russian industrial output up 7.8 pct in Jan

MOSCOW — Industrial output in Russia rose by 7.9 percent in January from a year ago as the country’s economy recovers from recession, the Federal Statistics Service said Monday.

The January figure marks the highest year-on-year rise in industrial production since the global downturn hit the country.

The Federal Statistics Service earlier reported that industrial output dropped by 10.8 percent last year.

January’s figures marked a 20.4 percent drop from December, however, as Russia had a 12-day-long public holiday in the New Year.

While production of some consumer goods remained flat or grew insignificantly, manufacturing of cars and locomotives increased three-fold compared to a year ago.

Russia is steadily emerging from its worst economic crisis in a decade. Gross domestic product contracted by 7.9 percent last year, although Russia’s economy has been growing for the past two quarters.

Russia seems to be recovering faster than many other countries as commodities prices — the backbone of its economy — continue to rise.