Russia: Economic conditions deteriorate in October
November 3, 2017
Business activity in Russia’s manufacturing sector lost steam in October. The Manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit fell from 51.9 in September to 51.1 in October. As a result, the PMI lies closer to the 50-threshold that separates expansion from contraction in the sector.
According to IHS Markit, slower growth was recorded in output and new orders causing the PMI reading to edge down. However, business confidence remained positive, while input prices rose at the sharpest pace since July last year.
Meanwhile, activity in the services sector also moderated. The Services Business Activity Index produced by IHS Markit eased from 55.2 in September to 53.9 in October. The reading was a three-month low although the index still remains firmly in expansionary territory.