26 Jan

Russia’s Manufacturing PMI Improved in December 2017

WRITTEN BY Sarah Sands FEATURED IN Macroeconomic Analysis

Russia’s manufacturing PMI in December

According to a report by Markit Economics, the final Russia manufacturing PMI (purchasing managers’ index) improved in December as compared to November 2017. It was at 52.0 in December as compared to 51.5 in November 2017. The December figure met the preliminary market estimate of 52.0.

Russia’s Manufacturing PMI Improved in December 2017

The stronger performance in Russia’s manufacturing PMI in December was mainly due to the following factors:

  • Production volume and output improved the most since August 2017.
  • Both new business orders and factory output strengthened at a higher rate during that month.
  • Job growth in the manufacturing sector also improved at a higher rate.
  • Export orders contracted for the first time since August 2017.

The stronger rise in the manufacturing PMI is a positive sign for the economy. On the other hand, the improvement in crude oil prices is supporting investor confidence in the economy. As Russia’s economy strongly depends on crude oil (USO) (UCO) exports and various energy products exports, the recent stabilization in crude oil is a positive factor for the economy.

Performance of ETFs in December 2017

The VanEck Vectors Russia ETF (RSX), which tracks the performance of Russia, rose 2% in December 2017. The Direxion Daily Russia Bull 3X ETF (RUSL) rose 5.5% in that month.

In the next part of this series, we’ll analyze the performance of Russia’s services PMI in December 2017.

Latest articles

25 Mar

Oil Bulls: Is a Recession Coming?

WRITTEN BY Robert Scott

On March 15–22, US crude oil May futures rose 0.4% and closed at $59.04 per barrel.

25 Mar

Will Micron’s Revenue Growth Remain Sluggish?

WRITTEN BY Scarlett Ness

Micron has given a weaker-than-expected revenue forecast for the third quarter but expects memory chip demand to recover in the fourth quarter.

Signet Jewelers (SIG) is expected to report weak fourth-quarter results on April 3.

25 Mar

Energy Sector: Analyzing Key Events This Week

WRITTEN BY Robert Scott

The EIA is scheduled to release its oil and natural gas inventory data on March 27–28, which could be a short-term driver for oil and natural gas prices.

On March 22, J.P. Morgan (JPM) downgraded PPG Industries' (PPG) rating to "underweight" from "neutral."

25 Mar

Cannabis Sector: Mixed Bag Last Week

WRITTEN BY Adam Jones

The week ending March 22 was a mixed bag for the cannabis sector. The cannabis sector ETFs ended largely in the negative territory.