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rdf:type	schema:NewsArticle
schema:articleBody	Russia's industrial output fell by 6.6 percent in April compared to the previous year, dampened by the country's coronavirus lockdown, the state statistics agency said Thursday. Russia imposed a "non-working" period across the country at the end of April which "served as the decisive factor in lowering industrial output," Rosstat said in a statement. Industries were delivered a double blow as President Vladimir Putin ordered companies to stop work activities but continue paying salaries. At the same time, "consumer demand fell for a range of goods and services," the agency said. However it reported a surge in demand for some products, including food, household products and laptops, sought as people began telecommuting. Russia's commodities sector only decreased by 3.2 percent year on year, and oil production actually grew by 0.2 percent, the agency said, noting that for many of those companies ceasing activity was not possible. Pharmaceutical industries showed growth of 13.5 percent year on year, while the automotive sector was the worst-hit, plummeting by 79.2 percent. Russia publishes industrial output figures before its GDP results. Its economy slowed to 1.6 percent in the first quarter of 2020 but is expected to do much worse in the second quarter. Each month in lockdown could cost between 20 and 30 percent of monthly growth, according to calculations by the ING. The Central Bank last month predicted that Russian economy would shrink by up to six percent in 2020. Russia's Audit Chamber predicts that the number of unemployed will grow from 2.5 million to eight million this year. The Russian economy has already been battered by low prices of oil, a key export shaken by a price war with Saudi Arabia in March which sent the Russian ruble tumbling. Putin moved to ease the nationwide lockdown last week to lower the pressure on the economy, though the country's coronavirus outbreak has only begun to slow over the past few days. He said the move was necessary as the restrictions have "hurt millions of our citizens". Most of the measures are still enforced in many regions including in the capital Moscow. Russia is second only to the United States in the number of registered coronavirus cases with 317,554 people having tested positive, but officials have said the situation is stabilising. ma/dl
schema:headline	Russia says industrial output shrank 6.6% in April
schema:mentions	Russian ruble Industry Moscow President of Russia Gross domestic product Saudi Arabia Lockdown Russia Vladimir Putin United States Severe acute respiratory syndrome coronavirus 2 Telecommuting Economy of Russia Russian Federal State Statistics Service Price war
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-21 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	64 (xsd:integer)

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