Russia Industrial Production Drops – Amid the plethora of Countries reporting dire economic activity Russia releases Industrial Production figures on Thursday.

Forecasts suggest Russia’s Industrial Production could shrink by as much as 10%. 

Russia Industrial Production Set to Drop

Russia Industrial Production Set to Drop

Russian Industrial Production measures the change in the total outputs of the Russian factories, mines, and utilities. It provides a good indicator of strength in the manufacturing sector. It is often considered a leading indicator of manufacturing employment, average earnings, and personal income.

A higher than expected reading should be taken as positive/bullish for the RUB, while a lower than expected reading is considered negative/bearish for the RUB.

According to Tradingeconomics.com, Industrial Production in Russia has averaged 3.44% from 2000 until 2020. It reached an all-time high of 17.70 % in April of 2000 and a record low of -16.90 % in January of 2009. 

 

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