Russian June Industrial Output Expands Less Than Forecast - Bloomberg

"Russian industrial output expanded less than economists forecast in June as manufacturing contracted for a second month.
Output at factories, mines and utilities advanced 0.1 percent in June compared with a year earlier, following a 1.4 percent drop the previous month, the Federal Statistics Service in Moscow said in an e-mailed report. The median estimate of 17 economists in a Bloomberg survey was for a 0.5 percent increase.
The world’s largest energy exporter has struggled to shelter its economy from slowing demand in China, its largest single trade partner, as sluggish capital spending and domestic sales limit the pace of factory output. The outlook is making it harder for companies like carmaker OAO AvtoVAZ to expand volumes, with Renaissance Capital last month calling Russia’s steel industry “uninvestable” and cutting the stock of steelmakers such as Evraz Plc and OAO Severstal to sell."

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