The surge in industrial output observed in October, when year-on-year growth reached 3.1%, is unlikely to be repeated in November, according to high-frequency data from the Central Bank and business sentiment surveys. In particular, industry failed to take advantage of the opportunities created by the lifting of restrictions on oil production. Marketing difficulties led to a decline in output in November following growth in October.

The jump in industrial production observed in October, when its growth in annual terms amounted to 3.1%, will most likely not continue in November, according to operational data from the Central Bank and market surveys. In particular, the industry failed to take advantage of the opportunities associated with the lifting of restrictions on oil production: problems with sales led to a reduction in its production in November after an increase in October.