Support The Moscow Times!

Manufacturing Down

Russian manufacturing growth eased in December after reaching an eight-month peak in November, HSBC Holdings said.

The HSBC Purchasing Managers' Index fell to 51.6 in December from 52.6 a month earlier, HSBC said, citing data compiled by London-based Markit Economics. A level above 50 signals an expansion.

"Growth momentum in manufacturing eased in December, following the surprising spike in economic activity in the previous month,'' said Alexander Morozov, chief economist for Russia and the Commonwealth of Independent States at HSBC in Moscow.

But services-industry growth slowed in December for the first time in four months. The HSBC Russia Services PMI fell to 53.8 in December, from 54.8 in November. The measure reached 56.9 in July.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.