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Russia Early Indicators

 
08.11.2013
The first bunch of economic releases for October (both survey-based and hard data) looks mixed, but shows tentative signs of improvement. On the one hand, PMIs and electricity consumption gained some traction, while gas output surged; on the other hand, contracting imports, car sales and rail cargo volumes put the chill on any excessive enthusiasm. Overall, this bodes well with our expectation of a growth uptick in the coming months, but only an ‘optical’ one on the back of the favourable base effect in agriculture and investments.
Vladimir Kolychev, Daria Isakova
VTB Capital analyst

Tags:
Russia, PMI

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