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Industrial Output Increasing

By The Moscow Times

Industrial production accelerated last month, the State Statistics Service said Wednesday, regaining momentum after record temperatures cut manufacturing and farming output in July.

Output at factories, mines and utilities rose an annual 7 percent after a 5.9 percent advance in July.

“The first phase of the inventory cycle and export-demand-led recovery was replaced with a second one driven by consumer demand,” said Maxim Oreshkin, chief strategist for Russia and CIS at Credit Agricole. 

(Bloomberg)


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