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%.
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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Danny Deegan is the Editor and proprietor of eurasianmarket.com. Born in the UK, currently working in financial services with an emphasis on equity investments and forex trading.