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. Last Updated: 07/27/2016

Production Rises 1.5%

MOSCOW -- Russian industrial production was up 1.5 percent in January from the same period last year, but down 6.8 percent from the previous month, the State Statistics Committee said Friday.

Holidays in early January typically reduce economic activity significantly compared to December.

The committee said after adjusting for differences in the number of working days each month, January industrial output was down just 2.4 percent from December.

Industrial production rose 1.9 percent in 1997 after declining every year since the late 1980s. Russian officials point to the figure as a sign that the economic downturn has bottomed out, and modest growth can be expected in coming years.