MNI Russia Business Indicator Rises to 60.0 in February from 57.9 in January

1. Insight and data for better decisions
MNI Russia Business Indicator Rises to 60.0 in
February from 57.9 in January
71% of Firms say Sochi Olympics Good for Business
Commenting on the latest survey, Philip Uglow, Chief
Economist at MNI Indicators said, “Business
sentiment rose again in February, building on the
gains seen in January. The Sochi Olympics have
probably given confidence a boost although its
impact is likely to be short lived.”
70
65
60
55
50
45
Current Conditions
Future Expectations
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Feb-14
Jan-14
Dec-13
Nov-13
Oct-13
Sep-13
Aug-13
Jul-13
40
Jun-13
Companies are benefiting from the recent depreciation
in the currency. The Effect of the Rouble Exchange
Rate Indicator rose to a record high of 61.0 in
February as more panellists said the exchange rate
was helping their business.
75
May-13
New Orders rose sharply on the month to the highest
since June last year, while Order Backlogs hit a series
high. Companies were also optimistic about increased
orders in the coming three months.
MNI Russia Business Indicator
Apr-13
The MNI Russia Business Indicator increased to 60.0
in February from 57.9 in January, the highest level
since May 2013. Part of the recent rise in sentiment
is probably due to the Sochi Winter Olympics. Over
70% of respondents said they thought that the winter
games have, or will have, a positive impact on their
business.
“While there are risks that the depreciation in the
currency could go too far and too fast, the recent fall
should balance Russia’s growth and help domestic
producers. Our survey shows that companies are
already feeling the benefit of the weaker rouble.”
Mar-13
Sentiment among some of Russia’s largest companies
rose for the second consecutive month in February,
providing further hope that the economy may be
recovering following the sharp downturn seen in
2013.

2. MNI Indicators - February 2014
Overview
Dec-13
Jan-14
Feb-14
Highest
Since
Lowest
Since
3-Month
Average
Monthly
Change
Monthly %
Change
MNI Russia Business
Indicator
Current Conditions
45.5
57.9
60.0
May-13
-
54.5
2.1
3.6%
Future Expectations
49.5
53.0
55.3
Aug-13
-
52.6
2.3
4.3%
Current Conditions
48.3
58.2
59.3
Jun-13
-
55.3
1.1
1.9%
Future Expectations
47.5
50.5
52.0
Sep-13
-
50.0
1.5
3.0%
Current Conditions
48.8
57.6
62.5
Jun-13
-
56.3
4.9
8.5%
Future Expectations
46.5
50.3
51.0
Sep-13
-
49.3
0.7
1.4%
Production
New Orders
Export Orders
Current Conditions
49.2
50.8
57.2
May-13
-
52.4
6.4
12.6%
Future Expectations
41.7
46.3
47.1
Aug-13
-
45.0
0.8
1.7%
Current Conditions
50.5
50.3
50.3
Jan-14
-
50.4
0.0
0.0%
Future Expectations
49.7
49.7
49.7
Jan-14
-
49.7
0.0
0.0%
Current Conditions
48.7
51.4
52.0
series high
-
50.7
0.6
1.2%
Future Expectations
41.5
42.7
43.3
Sep-13
-
42.5
0.6
1.4%
Productive Capacity
Order Backlogs
Employment
Current Conditions
49.0
48.3
50.0
Oct-13
-
49.1
1.7
3.5%
Future Expectations
47.2
49.7
49.5
-
Dec-13
48.8
-0.2
-0.4%
Current Conditions
46.5
38.2
44.4
Dec-13
-
43.0
6.2
16.2%
Future Expectations
45.7
43.8
43.8
Jan-14
-
44.4
0.0
0.0%
Inventories
Input Prices
Current Conditions
51.5
54.5
51.3
-
Aug-13
52.4
-3.2
-5.9%
Future Expectations
50.5
50.0
50.0
Jan-14
-
50.2
0.0
0.0%
Prices Received
Current Conditions
52.8
57.7
53.8
-
Dec-13
54.8
-3.9
-6.8%
Future Expectations
49.2
49.4
48.7
-
series low
49.1
-0.7
-1.4%
Current Conditions
59.1
62.6
63.8
Jun-13
-
61.8
1.2
1.9%
Future Expectations
57.8
56.9
58.4
Oct-13
-
57.7
1.5
2.6%
Financial Position
Interest Rates Paid
Current Conditions
52.4
52.6
54.3
Jun-13
-
53.1
1.7
3.2%
Future Expectations
50.6
50.0
50.0
Jan-14
-
50.2
0.0
0.0%
Effect of Rouble Exchange
Rate
Current Conditions
55.4
56.9
61.0
series high
-
57.8
4.1
7.2%
Future Expectations
50.0
50.0
50.0
Jan-14
-
50.0
0.0
0.0%
Current Conditions
49.5
51.7
50.5
-
Dec-13
50.6
-1.2
-2.3%
Future Expectations
49.5
49.7
49.7
Jan-14
-
49.6
0.0
0.0%
Supplier Delivery Times
Availability of Credit
Current Conditions
57.9
55.0
51.9
-
Aug-13
54.9
-3.1
-5.6%
Future Expectations
51.1
50.9
50.9
Jan-14
-
51.0
0.0
0.0%
2