MNI Russia Business Sentiment October 2013


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MNI Russia Business Sentiment October 2013

  1. 1. London, 21 October 2013 MNI RUSSIA BUSINESS SENTIMENT EMBARGOED UNTIL 9.45 A.M. MOSCOW TIME, 21 OCTOBER 2013 MNI Russia Business Indicator Falls to 56.3 in October from 59.0 in September Expectations Lowest On Record Media Release The MNI Russia Business Indicator eased in October following a sharp rise in the previous month, while expectations for the future fell to the lowest level since the series began in March. The Business Indicator posted a reading of 56.3 in October, down 4.6% from 59.0 in the previous month. September saw a large jump of 15.0% in sentiment, having declined for four consecutive months. Business conditions in both the manufacturing and service sector fell between September and October, although remained above the breakeven mark. The Business Indicator for the construction sector improved in October. Businesses think conditions will worsen over the next three months, with the Expectations Indicator falling 14.2% in October to 47.2 from 55.0 in September, dropping below the breakeven 50 level for the first time in the series’ history. Russia’s largest companies were less optimistic about the future, marked by a fall in thirteen of the fifteen Future Expectations indicators in October. Commenting on the latest survey, MNI Indicators Chief Economist Philip Uglow said, “Business sentiment turned down in October following the pick-up in September. More worryingly, expectations for the future fell sharply with nearly all indicators declining in October and nine of them falling to the lowest since the series began in March”. “The fall is disappointing and raises serious concerns about an economy plagued by slow growth, weak industrial production, falling investment and poor productivity,” he added. - ENDS -
  2. 2. Page 2 For further information, please contact: Naomi Kim, Public Relations +1 212 669 6459 Arno Castanet, Marketing +44 (0)20 7862 7434 Editorial Content: Philip Uglow, Chief Economist, MNI Indicators Media Release Notes to Editors Please source all information to MNI Indicators. MNI Russia Business Sentiment is a monthly poll of Russian business executives at companies listed on the Moscow Exchange. Companies are a mix of manufacturing, service, construction and agricultural firms. Respondents are asked their opinion on whether a particular business activity has increased, decreased or remained the same compared with the previous month as well as their expectations for three months ahead, e.g. is Production higher/same/lower compared with a month ago? Diffusion indicators are then calculated by adding the percentage share of positive responses to half the percentage of those respondents reporting no change. An indicator reading above 50 shows expansion, below 50 indicates contraction and a result of 50 means no change. Data is collected through computer aided telephone interviews (CATI) and around 200 companies are surveyed each month. About MNI Indicators MNI Indicators, part of Deutsche Börse Group, offers unique macro-economic data and insight to businesses and the investment community. We produce data and intelligence that is unbiased, pertinent and responsive. Our data moves markets. For more information, visit our website at MNI Indicators | Deutsche Börse Group