Russian Industry Drops for Fifth Month, Longest Slump Since 2009

Russian industrial production fell more than forecast by economists, contracting for a fifth month in the longest slump since 2009.

Output at factories, utilities and mines fell 4.8 percent from a year earlier in June after a 5.5 percent decline in May, the Federal Statistics Service in Moscow said Wednesday in an e-mailed statement. The median of 18 estimates in a Bloomberg survey was for a 4 percent drop.