Modest increase in Russia’s January output
Russia's lower levels of investment activity and increases in imports led to worse than expected growth in production in January 2005. The Economic Development and Trade Ministry of Russia announced that the industrial output of Russia grew 2.8% in January 2005 from the previous month, down sharply from the 7.5% growth experienced a year earlier. Industrial output growth in January 2003 was 4.9%. Russia's gross domestic product (GDP) grew 4.4% in January 2005, 3.3 points less than the increase in January 2004. Capital expenditures rose 7% in January 2005.