The Federal State Statistics Service has improved its estimate of industrial output in Russia in 2015 and 2016. As the statistical authority reported, last year production rose 1.3%, but not 1.1% as earlier reported.
The forecast for a drop in industrial output in 2015 was improved from 3.4% to 0.8%.
The statistical body specified in a press release that on January 1, 2017 it shifted to the new versions of the All-Russian Classifier of Types of Economic Activities (OKVED2) and the All-Russian Classifier of Products by Types of Economic Activity (OKPD2) in statistical practices. Since then the industrial output index is calculated by the following types: mineral extraction, manufacturing, energy, gas and heat supply, air conditioning, water supply, water disposal, organization of collection and utilization of waste, pollution elimination activities. When shifting to the new classifiers the authority conducted retrospective calculation of production indexes by months and periods of 2015-2016.
In January, according to Rosstat data, Russia's industrial output grew 2.3% y-o-y, but declined 23.8% compared to December.
