Russia PMI December 2021

Russia: Manufacturing PMI ticks down in December

The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 51.6 in December from November’s 51.7. Consequently, the index remained above the 50-threshold, pointing to a continued, albeit slightly softer, improvement in business conditions from the previous month.

December’s result reflected broadly steady growth in output and new business, amid sustained domestic demand which largely offset a slip in new export orders. Moreover, inventories fell at the second-fastest pace since April, although contracting backlogs of work pushed manufacturers to moderated their hiring activity in December. Lastly, supplier shortages and logistical delays pushed the rate of cost inflation to a five-month high, with firms passing higher costs onto consumers through rising output charges.

Commenting on the result, Siân Jones, a senior economist at IHS Markit, noted:

“Downside risks to the outlook emerged in December, however, as business optimism regarding future output levels softened. High Covid-19 virus cases and the spread of the Omicron variant, alongside mounting inflationary pressures, are likely to weigh on domestic and foreign client demand thus creating challenges for manufacturers in the opening stages of 2022.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest