The Economy

Russian Industrial Output Down 10.8% in 2009

Jan. 22, 2010

Car production plummeted 59.4%

In December Russian industrial production rose 2.7% a 12-month comparison but plunged 10.8% for all of 2009.

Russian industry has been severely hit by the global economic crisis, with car production plummeting 59.4%, Rosstat said.

Industrial production picked up again in November 2009, rising 5% on a monthly basis and 2.7% on a yearly basis.

International ratings agency Fitch on Jan. 22 raised its outlook on the Russian economy to "stable" from "negative," saying it had greater confidence in Russia's financial and economic prospects.

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