The Soviet economy recovered slightlylast month after a poor performance in January, but major
industries, including oil and machinery, are still short of
production targets, official figures show.
    Central Statistical Board data published in the weekly
Ekonomicheskaya Gazeta yesterday showed that industrial output
was only up 0.8 pct in the first two months of 1987 over the
same period of last year.
    However, the figure for January alone showed a fall in
output of 0.1 pct from a year earlier. Production is targetted
to increase 4.4 pct for all of 1987.
    The figures showed that only 77 pct of enterprises met
their supply obligations in January and February.
    Production of oil, the country's main export to Western
nations, hit 100 mln tonnes in January and February, up from
97.3 mln a year earlier, and exceeded its target by 0.5 pct.
    Economists said this reflected the huge investments poured
into the oil sector in recent months in an effort to reverse
the stagnation in production which began in November 1983.
    Falling world oil prices last year helped cause a decline
in Soviet trade with the West to 130 billion roubles from 141.6
billion in 1985.
    Ekonomicheskaya Gazeta said labour productivity targets
were also not fulfilled, but did not give figures.
    Economists said the overall data reflected exceptionally
bad weather at the start of the year and stricter quality
controls imposed on enterprises.
    Production in the machine-building sector, a priority in
Moscow's plans for economic renewal, recovered slightly in
February but was still 3.6 pct lower in the first two months of
the year compared with the same period of 1986.
    The figures showed that five republics produced less than
in the first two months of 1986.
 REUTER
