Russia PMI January 2018


Russia: Manufacturing sector continues to improve; services sector again moderates in January

February 5, 2018

Business conditions in Russia’s manufacturing sector continued to improve in January. The manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, rose slightly from 52.0 in December to 52.1 in January, a six-month high. As a result, the PMI lies slightly further above the 50-threshold that separates expansion from contraction in business activity in the sector.

According to IHS Markit, strong growth in output was attributable to a faster rise in new orders, thanks to a slight increase in new business from abroad and new client demand. Meanwhile, employment levels fell in January, albeit marginally, and inflationary pressures remained historically low.

In contrast, activity in the services sector moderated. The Services Business Activity Index produced by IHS Markit eased from 56.8 in December to 55.1 in January. Despite the index dropping to a three-month low, the indicator remains firmly in expansionary territory.

Russia Fixed Investment Forecast

FocusEconomics Consensus Forecast panelists project fixed investment will expand 2.7% in 2018, which is down 0.1 percentage points from last month’s forecast. In 2019, the panel expects fixed investment to grow 2.4%.

Author:, Economist

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Russia PMI Chart

Russia PMI January 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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