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Manufacturing PMI Rises for 17th Consecutive Month

RUSSIA
  • Russia’s Manufacturing PMI rose to 54.5 in September from 52.7 in August – the highest reading since early 2017. The reading marks the 17th consecutive month of expansion. New Orders rose to 56.6 compared to 54.1 prior.
  • President Putin congratulated Chinese President Xi Jinping on the 74th anniversary of the People's Republic of China and noted the strategic interaction between Russia and China, according to Interfax. "Relations between Russia and China are developing in the spirit of comprehensive partnership and strategic cooperation. Moscow and Beijing are fruitfully cooperating in all areas, and efficiently coordinating their efforts in international affairs," Putin said in a telegram published on the Kremlin website.
  • There are no other major releases on the docket today. The final reading of Q2 GDP will cross tomorrow (Est: +4.9% y/y).

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