Russia: Manufacturing PMI falls slightly in October, suggest moderate growth
October 31, 2014
The Markit HSBC manufacturing Purchasing Managers Index (PMI) edged down from 50.4 in September to 50.3 in October. The PMI has lingered above the 50-threshold that separates contraction from expansion in business conditions for the fourth consecutive month.
According to Markit HSBC, September’s figure continues to indicate, “an improvement in overall business conditions at Russian manufacturers.” Manufacturing output continued to expand in October, although the pace of growth moderated. In addition, the survey showed that the underlying weakness in business conditions was mainly the result of a poor performance in data on backlogs, employment and purchasing. Regarding the evolution of prices, HSBC noted an increase in input prices, widely attributed by firms to the weakening of the exchange rate.