Russian manufacturing slips back below critical level in November - HSBC
MOSCOW. Dec 2 (Interfax) - The business climate facing Russian goods producers deteriorated in November, HSBC PMI data compiled by Markit showed.
The survey's headline figure is the HSBC Purchasing Managers' Index (PMI) - a composite indicator designed to give a single-figure snapshot of operating conditions in the manufacturing economy. The PMI fell below the no-change mark of 50.0 in November, to 49.4 points, down from 51.8 in October.
New business and output both fell to minimum levels in November following the short-lived burst of activity in October, HSBC said in a research note. Employment figures shrank for the fifth month in a row and for the 12th out of the last 13 months. Consumer spending also contracted in November, at its fastest rate since June 2009.
Export orders weakened for the third month in a row. Growth in new orders was near zero.
The manufacturing sector boosted output for the fourth month running, but the pace of growth declined steeply, mirroring the slowdown in new orders.
The backlog of orders also shrank in November, for the ninth month in a row.
Meanwhile, inflationary pressure increased in November, although inflation remains relatively weak compared to historical levels.