Russia PMI October 2018

Russia

Russia: Manufacturing and services PMIs jump in October

November 5, 2018

Business conditions in Russia’s manufacturing and services sectors improved in October. The manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, rose from 50.0 to 51.3, the best result since April. As a result, the PMI lies above the 50-threshold that separates contraction from expansion in business activity in the sector.

According to IHS Markit, output and new orders growth picked up in October, driving the increase. Orders from abroad especially grew solidly in the month. In line with the improved conditions, firms added jobs at the fastest pace since January last year and business confidence remained optimistic. Regarding inflation, price pressures eased in the months.

Meanwhile, the IHS Markit Russia Services PMI rose to 56.9 in October, above September’s 54.7 and the best reading since November 2017.

FocusEconomics Consensus Forecast panelists project fixed investment will expand 2.4% in 2019, which is unchanged from last month’s forecast. In 2020, the panel expects fixed investment to grow 2.5%.


Author: Angela Bouzanis, Senior Economist

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Russia PMI Manufacturing October 2018

Note: IHS Markit Manufacturing Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction.
Source: IHS Markit.


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