OREANDA-NEWS. September 16, 2011. According to statistics released by Rosstat today (Sep 15) industrial production in August beat expectations, rising 6.2% YoY compared to the BBG consensus estimate of 5.5%. The August result also beat July’s performance of 5.2%. Compared to July, production growth strengthened across the board in mining, manufacturing and basic services.

Stronger YoY growth across all sectors can partially be explained by the negative impact of the August heat wave and widespread forest fires in Russia in 2010.  We expect industrial production growth of 5.1% for 2011 as a whole.