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S&P Manufacturing PMI Marks 18th Consecutive Month of Expansion

RUSSIA
  • S&P Global’s Manufacturing PMI for Russia fell to 53.8 in October from 54.5 in September. This marks the 18th consecutive reading above the expansionary 50 threshold, while the new orders print of 57.5 is its highest since 2011.
  • Ukraine's attacks on the Russian Navy in the Black Sea have crippled Moscow's war efforts, Ukrainian President Zelenskiy said on Tuesday as per Reuters. However, despite Kyiv's months-long offensive, the vast frontline in Ukraine's east and south has moved little in the past year, spurring criticism and impatience among some of Ukraine's Western allies.
  • The following macroeconomic data is on the docket today (1600GMT/1900 local time):
    • Retail Sales (Est: +10.9% y/y; Prior: +11.0%)
    • Unemployment Rate (Est: 3.0%; Prior: 3.0%)
    • Real Wages (Est: +8.2% y/y; Prior: +9.2%)

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