Media: Russia increases its weapons production

Russian industry unexpectedly rebounded for the first time in a year, as sectors associated with military production delivered strong performances amid rising spending on the invasion of Ukraine, reported from Bloomberg.

Industrial production was up 1.2% in March from a year earlier, according to the Federal Statistics Service, well ahead of the 1.4% decline expected in a Bloomberg survey of economists. Mining and resource extraction were down 3.6% but the agency didn’t break out data for oil production, unlike in past releases.

Manufacturing was up more than 6%, led by a 30% gain in "finished metal goods,” which includes arms and ammunition. Computers, electronic and optical products, which economists say is likely to include parts for aircraft and rocket engines, as well as optical sights and other systems grew 23%.

Production of "other transport,” which covers combat vehicles, aircraft, and ships, was up more than 10% for the second month in a row.
The surge in military production began in February and followed a boom in government spending early in the year that officials said was linked to unspecified contracts.

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