28 Nov 2019 16:16

Business confidence falls again in both Russian extractive and manufacturing sectors in Nov - Rosstat

MOSCOW. Nov 28 (Interfax) - Business confidence fell in Russia's extractive and manufacturing sector in November, for the second straight month, the Russian Federal State Statistics Service (Rosstat) said.

The business confidence index in the Russian extractive sector was (minus) -5% in November, -3% in October, 0% in September, as in August and 1% in July, as in June and May. It was 3% in April, 1% in March, 0% in February and -1% in January.

The index in manufacturing was -5% in November, -3% in October, -2% in September, as in August, and -1% in July, as in June and May, compared with -2% in April, March, February and January and -8% in December.

Compared with November last year, the index fell from -1% to -4% in extractive but rose from -6% to -5% in manufacturing.

Rosstat said 13% of respondents in the extractive sector thought the economic situation at their companies in November was good and 73% satisfactory, and 11% and 74%, respectively, thought so in manufacturing.

Respondents reported average capacity utilization at 70% in the extractive industry and at 66% in manufacturing in November.

Among factors constraining production growth, respondents mentioned insufficient demand for production on the domestic market, general economic uncertainty and a high level of taxation.

Some 3,700 enterprises and organizations except small businesses took part in the Rosstat survey.