PMI in Russia November 2022

The S&P Global Purchasing Managers’ Index (PMI) rose to 53.2 in November from 50.7 in October. The November result was the strongest since January 2017. Consequently, the index rose above the no-change threshold of 50.0, indicating a faster improvement in manufacturing conditions compared to the previous month.

The rise was driven by faster growth in both production and new orders. This came amid stronger domestic demand, which more than offset the continued decline in export orders. As a result, higher sales supported a resumption of growth in employment and inventories. Meanwhile, cost burdens rose at a more lenient pace in November as supplier price inflation slowed, with holiday fees largely flat. Finally, hopes for a further increase in new orders helped boost business confidence in November.

According to FocusEconomics experts, in 2023 fixed capital investment will fall by 5.5%, which has not changed compared to last month’s forecast. In 2024, experts predict an increase in investment in fixed assets by 2.4%.