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SMALL BUSINESS
Russian industrial output down 11.2 pct in Oct
AP
MOSCOW -Russia's industrial production fell 11.2 percent in the year to October and rose only 0.8 percent on the month, official data showed Tuesday, suggesting the country's economic recovery will be volatile.
Figures from the Federal Statistics Service showed the industrial sector could not maintain the positive momentum from September, when output fell 9.5 percent on the year and grew 5.1 percent on the month.
Russia is weathering its worst economic crisis in a decade as energy prices — the backbone of its economy — slumped sharply last year.
Russia's gross domestic product went up by a non-seasonally adjusted 13.9 percent in the July-September period compared to the previous quarter, but was still down 8.9 percent on the year.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-17 04:55:53
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