Russian industrial output up for first time in over year

Russia's industrial output edged up in February for the first month in more than a year, adding to signs the economy could be starting to stabilise following an extended slump. Industrial output rose by 1 percent year on year in February, the sector's first expansion since January 2015, official data showed on Thursday.
Production had declined 2.7 percent in January and was expected to continue to fall, by 2 percent according to a Reuters poll. But economists said output was supported by an additional day in February due to the leap year.
"We need to see this continuing in coming months to seriously talk about material improvement in the industrial sector," Dmitry Polevoy, chief Russia and CIS economist at ING Bank, said in a note.