Business News
Russian figures show sharp drop in industrial production for April
May 18, 2009, 12:44 GMT
Moscow - Russian industrial production fell by 16.9 per cent on the year in April, a much more drastic fall than expected, reported the Interfax news agency, citing the federal statistics office.
Analysts had expected a drop of 12.4 per cent. It was the sharpest drop in more than a decade.
Particularly hard hit were the steel and machine construction industries.
The April drop follows drops of 13.2 and 13.7 per cent in February and March, which had seemed like slight improvements after a 16-per- cent drop in January.
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