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.

(Bloomberg)

Read more

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

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.