Russia’s Manufacturing Activity Improves in March



Russia’s manufacturing purchasing managers’ index

According to Markit Economics, Russia’s manufacturing PMI (purchasing managers’ index) improved marginally in March, rising to 50.6 from 50.2 in February. The March figure beat the market estimate of 50.5.

Russia’s March manufacturing PMI was mainly driven by the following factors:

  • Production volume and output rose at a softer rate.
  • New business orders and factory output rose at a lower rate.
  • Outstanding business fell the most since February 2016.
  • Export orders in the manufacturing sector fell.
  • Employment in the manufacturing sector fell.

Rising global trade uncertainty affected major economies around the globe. Political uncertainty and rising concerns about Syria also impacted economic activity in Russia. Both domestic and international demand weakened in March.

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Performance of ETFs in March

The VanEck Vectors Russia ETF (RSX), which tracks Russia’s economy, fell 1.8% in March, and the Direxion Daily Russia Bull 3X ETF (RUSL) fell 7.5%. In the next part of this series, we’ll analyze Russia’s service PMI in March.


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