According to the results of last month, in annual terms all the main segments of industrial production in Russia showed growth. According to Rosstat, shoe production in May increased by 17,5% compared to last year. Experts of the BCS Financial Group forecast further production growth this year.
According to the experts of FG "BCS", signs of stabilization of the trend in industrial production in Russia have been observed for several months in a row. In April, the annual dynamics in this sector turned positive for the first time since the beginning of 2015, and the data for May confirmed this trend. However, we note that the positive dynamics was largely due to the base effect: in April-August 2015, industrial production in annual terms looked especially weak. We expect the positive dynamics to continue and strengthen in the absence of significant pressure on the Russian economy in the coming months (oil prices, the issue of UK membership in the EU, geopolitics, China). For five months of 2016, the volume of industrial production increased by an average of 0.1% yoy; we forecast 0.4% y / y growth in 2016