SOVIET FIGURES SHOW ECONOMY STILL SHORT OF TARGETS The Soviet economy recovered slightly last 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.