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4.3 Industrial sectors and trade 4.3.1 Producers PMI
The headline seasonally adjusted IHS Markit Russia Manufacturing PMI put in its strongest growth since April 2019 after registered 51.5 in February, up from 50.9 in January, signalling a marginal improvement in the health of the Russian manufacturing sector in the last month.
4.3.2 Corporate profits dynamics
Russia’s companies got off to a good start this year reporting RUB1.4 trillion ($17.9bn) of profits, up from the RUB1.2 trillion they reported in the first month of the year in the last two years. However, this year is still going to be hard as the economic recovery is expected to underperform compared to Russia’s peers.
Over 2020, corporate profits at Russia’s large and medium-sized companies dropped by around a quarter, according to data from Rosstat.
While the total came to RUB12 trillion ($162bn), having fallen by more than 50% last spring, it was a better performance than the most optimistic estimates.
In fact, almost half of Russia’s entire corporate profit was chalked up in the
48 RUSSIA Country Report April 2021 www.intellinews.com
