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02:48 GMT +3 hours19 December 2014
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Russia’s Industrial Output down 0.4% in August

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Russia’s industrial production declined by a seasonally adjusted 0.4 percent in August compared to July 2012, according to Economic Development Ministry data published on Wednesday.

Russia’s industrial production declined by a seasonally adjusted 0.4 percent in August compared to July 2012, according to Economic Development Ministry data published on Wednesday.

The Federal State Statistics Service Rosstat had previously reported industrial output declined 0.7 percent in August compared to July.

"Industrial output slowed to 2.1 pecent compared to August last year (down from 3.4 percent in July)," the ministry said in its monitoring report.

The decline "indicates the worsening situation in industry amid an overall slowing of investor and customer demand, as well as a lack of stability on foreign markets," it said.

A 0.5 percent decrease in manufacturing activity was a major factor in the decline.

The Economic Development Ministry said industrial output in the first eight months of 2012 rose 3.1 percent year-on-year, the same figure as Rosstat reported last week.