FOREX TradingCharts.com

Financial News: Russia Manufacturing Shrinks At Slower Pace

Russia Manufacturing Shrinks At Slower Pace

11/01/2019 - 05:20:00 (RTTNews)

(RTTNews) - Russia's manufacturing deteriorated for the sixth successive month in October, but at a slower pace, due to weaker client demand, survey data from IHS Markit showed on Friday.

The purchasing managers' index, or PMI, for the manufacturing sector rose to 47.2 in October from 46.3 in September. Any reading below 50 indicates a contraction in the sector.

The pace of the overall contraction was the second-strongest since May 2009, IHS Markit said.

Production decreased further in October and remained sharp despite some slowing in the pace. The fall in output was due to lower client demand and a sustained drop in new business.

Factory sales fell for the fifth straight month in October as customers hesitated to place new orders and new export orders declined at the sharpest pace for over a decade.

The number of employees decreased for the third month in a row due to a sustained fall in new business and a steep reduction in backlogs of work.

Input prices rose in October, and supplier and energy costs were higher, remaining below those seen at the start of the year.

Firms decreased their purchasing activity as they supplemented production through the use of pre-production inventories. Stocks of finished goods fell as client demand weakened and due to efforts to run down stores.

However, manufacturers remained strongly optimistic about the 12-month outlook in the backdrop of new product developments and planned investment in new machinery.

"Muted growth across the sector at the beginning of the fourth quarter reflected our current forecast for a 0.6% quarter-on-quarter contraction in industrial production during the final three months of 2019," Sian Jones, economist at IHS Markit, said.

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


Japan Inflation Data Due On Friday (38 min(s), 51 sec(s) ago)
(RTTNews) - Japan will on Friday release October nationwide numbers for consumer prices, highlight ...Full Story»

Japan Overall Consumer Prices Rise 0.2% On Year In October (43 min(s), 51 sec(s) ago)
(RTTNews) - Overall consumer prices in Japan were up 0.2 percent on year in October, the Ministry ...Full Story»

U.S. Leading Economic Index Drops For Third Straight Month In October (08 hr(s), 36 min(s), 51 sec(s) ago)
(RTTNews) - A report released by the Conference Board on Thursday showed a modest decrease by its ...Full Story»

U.S. Existing Home Sales Jump More Than Expected In October (08 hr(s), 58 min(s), 51 sec(s) ago)
(RTTNews) - Existing home sales in the U.S. rebounded by more than expected in the month of Octobe ...Full Story»

S. Africa Central Bank Holds Rate Steady Again (09 hr(s), 49 min(s), 51 sec(s) ago)
(RTTNews) - South Africa's central bank left its key interest rate unchanged for a second cons ...Full Story»

Growth In Philadelphia Manufacturing Re-Accelerates More Than Expected (10 hr(s), 03 min(s), 51 sec(s) ago)
(RTTNews) - After reporting a continued slowdown in the pace of growth in regional manufacturing a ...Full Story»

Belgium Consumer Confidence Improves For Second Month (10 hr(s), 12 min(s), 51 sec(s) ago)
(RTTNews) - Belgium's consumer confidence improved for a second consecutive month to its highe ...Full Story»

U.S. Weekly Jobless Claims Unchanged At Five-Month High (10 hr(s), 14 min(s), 51 sec(s) ago)
(RTTNews) - The Labor Department released a report on Thursday showing first-time claims for U.S. ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Japan Inflation Data Due On Friday

11/21/2019 - 18:45 PM (RTTNews)
(RTTNews) - Japan will on Friday release October nationwide numbers for consumer prices, highlight ...Full Story>>

Japan Overall Consumer Prices Rise 0.2% On Year In October

11/21/2019 - 18:40 PM (RTTNews)
(RTTNews) - Overall consumer prices in Japan were up 0.2 percent on year in October, the Ministry ...Full Story>>

U.S. Leading Economic Index Drops For Third Straight Month In October

11/21/2019 - 10:47 AM (RTTNews)
(RTTNews) - A report released by the Conference Board on Thursday showed a modest decrease by its ...Full Story>>

U.S. Existing Home Sales Jump More Than Expected In October

11/21/2019 - 10:25 AM (RTTNews)
(RTTNews) - Existing home sales in the U.S. rebounded by more than expected in the month of Octobe ...Full Story>>

S. Africa Central Bank Holds Rate Steady Again

11/21/2019 - 09:34 AM (RTTNews)
(RTTNews) - South Africa's central bank left its key interest rate unchanged for a second cons ...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.