Off The Wire
UPDATE 1-Russia's January industrial output up 2.9 pct yr/yr
* Jan industrial output up 2.9 pct, yr/yr, beating forecasts
* Growth may be short-lived, analyst says
(Adds details, analysts, background)
By Zlata Garasyuta
MOSCOW, Feb 15 (Reuters) - Russia's industrial output rose 2.9 percent in January compared with January a year ago, recovering after two months in red, the state statistics service said on Thursday.
Analysts polled by Reuters had expected a 0.3 percent decrease in output year-on-year. The surprise increase came after declines in the two previous months, of 1.5 percent in December and 3.6 percent in November .
The economy ministry said this week that lower spending on defence affected industrial output late last year, as it kept economic growth for the year at 1.5 percent, less than previously expected .
The rise in the industrial output last month was supported by a 1.1 percent increase in the extraction of raw materials, mostly oil and gas, and by a 4.7 percent gain in manufacturing, the data showed.
Daria Isakova, senior economist at Otkritie Capital, said that the rise in the output was short-lived amid ongoing large infrastructure projects such as the Power of Siberia gas pipeline to China and preparations for the 2018 World Cup.
Rosstat provided the following headline data and sector breakdown: Headline industry output Jan 18 Dec 17 Jan 17
yr/yr pct change +2.9 -1.5 +2.3
mth/mth pct change -20.4 +8.2 -23.8 Extraction of raw materials
yr/yr pct change +1.1 -1.0 +3.3
mth/mth pct change -2.2 +3.7 -3.8 Manufacturing
yr/yr pct change +4.7 -2.0 +2.0
mth/mth pct change -30.6 +8.9 -35.2 Production and distribution of electricity, gas
yr/yr pct change -2.2 -5.5 +0.8
mth/mth pct change +3.4 +11.8 -0.1 Distribution of water, sewage
yr/yr pct change -4.6 -4.2 +1.6
mth/mth pct change -14.1 +7.4 -17.3
NOTE - For key Russian indicators click here .
(Reporting by Maria Kiselyova and Zlata Garasyuta, writing by Katya Golubkova,; editing by Larry King)