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Services PMI Marks 10th Consecutive Month of Expansion in November

RUSSIA
  • S&P Global’s Services PMI for Russia fell to 52.2 in November from 53.6 in October. That is the lowest reading since January 2023 but marks the tenth consecutive month of expansion. Russia’s Composite PMI fell to 52.4 from 53.6 the month prior - also the lowest since January 2023.
  • Exports of Russian hydrocarbons via the Northern Sea Route in the eastern direction in the 2023 navigation season totalled about 3.84m tons, Kommersant report. While LNG deliveries along the eastern sector of the NSR remained at the same level as last year, the main growth in cargo traffic was due to an increase in oil transportation to China.
  • The Finance Ministry will publish oil and gas budget revenues as well as its planned FX operations at noon local time. It may report Wellbeing Fund data and the budget balance for November also.

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