Page 43 - RusRPTFeb21

Analysts doubt that inflation could deviate significantly from the CBR target by YE21, as the effect of pass-through on the non-food category could weigh on prices once domestic economic activity gains traction in 2Q21-4Q21.
4.2.2​ PPI dynamics
4.3​ Industrial sectors and trade 4.3.1​ Producers PMI
The seasonally adjusted IHS Markit Russia Services Business Activity Index bounced back in January and was comfortably in the black, posting 52.7 in January​, up markedly from 48.0 in December, Markit said in a press release on February 3.
That follows on from a positive result for the manufacturing PMI released a few days earlier. The ​IHS Markit Russia Manufacturing PMI posted its first gain since August 2020​, rising to 50.9 in January, up from 49.7 in the last month of 2020, the first gain in five months. Any result above the 50 no-change market
43 ​RUSSIA Country Report​ February 2021 ​ ​www.intellinews.com