Page 41 - RusRPTDec21

4.3 Industrial sectors and trade 4.3.1 Producers PMI
The seasonally adjusted IHS Markit Russia Services Business Activity Index registered 48.8 in October, down from 50.5 in September, to signal the fastest contraction in Russian service sector business activity since December 2020.
The contraction in the services PMI was offset to some extent by a gain in the manufacturing PMI released a few days ago that saw the index rise to 51.6 in October, up from 49.8 in September; the first improvement in the health of the Russian manufacturing sector for five months.
Combined the IHS Markit Russia Composite PMI Output Index almost posted a net gain, but fell just shy of breaking above the 50 no-change mark of 50 to post 49.5 in October, down from 50.5 in September. The combined index puts Russia’s private sector business activity back into overall contraction as the post coronacrisis bounce back comes to an end.
“The fall in output was the second in three months, albeit only fractional overall. A quicker expansion in manufacturing production was outweighed by a renewed contraction in service sector activity,” Markit said.
Services are particularly prone to the impact on restrictions of movement as Russia is in the middle of a no-work week due to the resurgence of the coronavirus (COVID-19) epidemic that has seen death rates spike to over
41 RUSSIA Country Report December 2021 www.intellinews.com