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Manufacturing PMI Falls in Jan, Consumer Sentiment Reaches Record High

RUSSIA
  • Russia’s manufacturing PMI fell to 52.4 in January from 54.6 in December, marking the lowest reading since July 2023. New Orders fell to 54.0 compared to 56.6 the month prior – the 20th consecutive month of expansion.
  • Russian industrial production grew by 3.5% in 2023, with growth slowing to 5.4% in the third quarter and 4.1% in the fourth after surging to 5.7% in the second, Rosstat reported yesterday.
  • The CBR's Consumer Sentiment Index rose 6.4 points month-on-month and 6.8 points year-on-year to a record high of 108.2 in January, Kommersant report, pointing to unusually high household spending for the first month of the year.
  • Russian liquefied natural gas exports fell 8% to 2.9 million tonnes in January from a record 3.17 million tonnes in December, according to Kommersant. Most shipments went to Japan, Spain and France.
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