FOREX TradingCharts.com

Financial News: Russia's Manufacturing Sector Contracts Most Since 2009

Russia's Manufacturing Sector Contracts Most Since 2009

12/02/2019 - 01:30:00 (RTTNews)

(RTTNews) - Russia's manufacturing sector shrank at the fastest pace in more than a decade on weak demand and production in November, survey data from IHS Markit showed Monday.

The manufacturing Purchasing Managers' Index fell to 45.6 in November from 47.2 in October. A reading below 50 indicates contraction. Moreover, this was the lowest since May 2009.

A key factor behind the sustained contraction was a further fall in production. The decrease in output was linked to a slump in client demand.

Subsequently, firms noted a lower degree of confidence towards the outlook for output over the coming year in November.

Cost burdens climbed at the slowest pace since February 2017, as weaker demand for inputs reportedly led some suppliers to offer discounts. Firms increased their factory gate charges only marginally amid efforts to remain competitive.

"Our current industrial production forecast points towards a slowdown in output in the final quarter of 2019 and during the opening months of 2020 as muted domestic consumer spending is expected to weigh on the expansion," Siân Jones, an 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


U.S. Business Inventories Rise In Line With Estimates In October (03 hr(s), 45 min(s), 34 sec(s) ago)
(RTTNews) - Business inventories in the U.S. increased in line with economist estimates in the mon ...Full Story»

U.S. Import Prices Rise 0.2% In November, In Line With Estimates (04 hr(s), 51 min(s), 34 sec(s) ago)
(RTTNews) - Largely reflecting a rebound in fuel prices, the Labor Department released a report on ...Full Story»

Ireland Economy Grows 1.7% In Q3 (05 hr(s), 0 min(s),34 sec(s) ago)
(RTTNews) - Ireland's economy recovered in the third quarter, after a modest contraction in th ...Full Story»

U.S. Retail Sales Growth Falls Well Short Of Estimates In November (05 hr(s), 0 min(s),34 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed retail sales in the U.S. ...Full Story»

Russia Central Bank Signals More Rate Cuts Ahead (05 hr(s), 31 min(s), 34 sec(s) ago)
(RTTNews) - Russia's central bank on Friday cut its key interest rate for the fifth consecutiv ...Full Story»

U.S. Import Prices Rise In Line With Estimates In November (05 hr(s), 34 min(s), 34 sec(s) ago)
(RTTNews) - Largely reflecting a rebound in fuel prices, the Labor Department released a report on ...Full Story»

U.S. Retail Sales Rise Much Less Than Expected In November (05 hr(s), 39 min(s), 34 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed retail sales in the U.S. ...Full Story»

Poland Inflation Rises In November (07 hr(s), 24 min(s), 34 sec(s) ago)
(RTTNews) - Poland's consumer price inflation rose as estimated in November, final data from S ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Business Inventories Rise In Line With Estimates In October

12/13/2019 - 10:33 AM (RTTNews)
(RTTNews) - Business inventories in the U.S. increased in line with economist estimates in the mon ...Full Story>>

U.S. Import Prices Rise 0.2% In November, In Line With Estimates

12/13/2019 - 09:27 AM (RTTNews)
(RTTNews) - Largely reflecting a rebound in fuel prices, the Labor Department released a report on ...Full Story>>

U.S. Retail Sales Growth Falls Well Short Of Estimates In November

12/13/2019 - 09:18 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Friday showed retail sales in the U.S. ...Full Story>>

Ireland Economy Grows 1.7% In Q3

12/13/2019 - 09:18 AM (RTTNews)
(RTTNews) - Ireland's economy recovered in the third quarter, after a modest contraction in th ...Full Story>>

Russia Central Bank Signals More Rate Cuts Ahead

12/13/2019 - 08:47 AM (RTTNews)
(RTTNews) - Russia's central bank on Friday cut its key interest rate for the fifth consecutiv ...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.