FOREX TradingCharts.com

Financial News: Russia Manufacturing Contracts Most Since May 2009

Russia Manufacturing Contracts Most Since May 2009

10/01/2019 - 05:55:00 (RTTNews)

(RTTNews) - Russia's manufacturing activity deteriorated the most in over a decade in September, as production and new business shrunk sharply, survey data from IHS Markit showed on Tuesday.

The purchasing managers' index, or PMI, for the manufacturing sector fell to 46.3 in September from 49.1 in August. The reading was the lowest since May 2009. Any reading below 50 indicates contraction in the sector.

The quarterly average of 48.2 signaled the worst performance across the sector since the second quarter of 2015, IHS Markit said.

Both new business and production decreased at the fastest rates since April 2009, due to weak demand and difficulties in gaining new clients. New export orders declined at the quickest pace in three years, partly driven by increased competition for clients.

Employment declined at the sharpest pace since May, falling for the second straight month, due to weaker production requirements and redundancies. Backlogs of work decreased further at a sharper rate.

On the price front, input price and output charge inflation eased in September.

Business confidence fell to the lowest since the end of 2017, due to weak demand and the loss of clients.

"Subdued inflationary pressures, lower domestic demand and a global manufacturing slowdown have been highlighted by the Central Bank of Russia as key factors behind the recent cut in interest rates," IHS Markit economist Sian Jones said.

"We also expect further reductions to the policy rate going into 2020."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Business Inventories Virtually Unchanged In August (03 hr(s), 43 min(s), 45 sec(s) ago)
(RTTNews) - The Commerce Department released a report on Wednesday showing little change in U.S. b ...Full Story»

U.S. Homebuilder Confidence Unexpectedly Shows Continued Improvement (03 hr(s), 45 min(s), 45 sec(s) ago)
(RTTNews) - Homebuilder confidence in the U.S. unexpectedly climbed to its highest level in well o ...Full Story»

Hong Kong Banks Agree To Adopt Measures To Support Small Enterprises: HKMA (04 hr(s), 0 min(s),45 sec(s) ago)
(RTTNews) - Hong Kong's banks agreed to take measures to support small and medium enterprises, ...Full Story»

U.S. Retail Sales Unexpectedly Decrease Amid Pullback In Auto Sales (05 hr(s), 0 min(s),45 sec(s) ago)
(RTTNews) - Retail sales in the U.S. unexpectedly decreased in the month of September, according t ...Full Story»

U.S. Retail Sales Unexpectedly Drop 0.3% In September (05 hr(s), 32 min(s), 45 sec(s) ago)
(RTTNews) - Retail sales in the U.S. unexpectedly decreased in the month of September, according t ...Full Story»

Hong Kong Chief Unveils Measures To Improve Housing Market (05 hr(s), 43 min(s), 45 sec(s) ago)
(RTTNews) - Hong Kong's Chief Executive Carrie Lam unveiled measures to make housing affordabl ...Full Story»

UK Inflation Steady At 1.7% (06 hr(s), 03 min(s), 45 sec(s) ago)
(RTTNews) - UK consumer prices grew at a steady rate, which was below the Bank of England's ta ...Full Story»

Austria Inflation Slows In September (06 hr(s), 27 min(s), 45 sec(s) ago)
(RTTNews) - Austria's consumer price inflation slowed in September, figures from Statistics Au ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Business Inventories Virtually Unchanged In August

10/16/2019 - 10:29 AM (RTTNews)
(RTTNews) - The Commerce Department released a report on Wednesday showing little change in U.S. b ...Full Story>>

U.S. Homebuilder Confidence Unexpectedly Shows Continued Improvement

10/16/2019 - 10:27 AM (RTTNews)
(RTTNews) - Homebuilder confidence in the U.S. unexpectedly climbed to its highest level in well o ...Full Story>>

Hong Kong Banks Agree To Adopt Measures To Support Small Enterprises: HKMA

10/16/2019 - 10:12 AM (RTTNews)
(RTTNews) - Hong Kong's banks agreed to take measures to support small and medium enterprises, ...Full Story>>

U.S. Retail Sales Unexpectedly Decrease Amid Pullback In Auto Sales

10/16/2019 - 09:12 AM (RTTNews)
(RTTNews) - Retail sales in the U.S. unexpectedly decreased in the month of September, according t ...Full Story>>

U.S. Retail Sales Unexpectedly Drop 0.3% In September

10/16/2019 - 08:40 AM (RTTNews)
(RTTNews) - Retail sales in the U.S. unexpectedly decreased in the month of September, according t ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.