Russia 111201 Basic Political Developments
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- Grow-vember: Russian manufacture on the rise
- Russian consolidated budget surplus 2.425 trln rubles for Jan-Sept – Rosstat
- TABLE-Russian gold/fx reserves fall to $510.2 bln
National Economic TrendsDECEMBER 1, 2011, 12:00 A.M. ET Russian Factory Output Picks Up Steam In Nov, PMI Showshttp://online.wsj.com/article/BT-CO-20111130-720502.html MOSCOW (Dow Jones)--The pace of growth in Russia's manufacturing sector picked up in November, data from the HSBC Purchasing Managers Index Survey showed Thursday, with indicators suggesting continued improvement despite unstable global markets and the threat of a European recession. New orders and employment both increased at their strongest rates since March, raising Russia's PMI to 52.6 from 50.4 in October, the data showed. The improvement in the index was broad based, showing up in all sectors, Alexander Morozov, chief economist at HSBC in Moscow, said in a note. "Importantly, export demand has rebounded strongly, driving the overall rise in new orders. Historically, it has been a good lead indicator for the future direction and intensity of business activity in manufacturing," Morozov said. Russia's central bank left rates unchanged last month, with some analysts saying the regulator was growing apprehensive amid a looming recession in Europe. Overall, the economy has presented a mixed picture in the last few months, as domestic demand continues to be robust amid weaker-than-expected industrial production and heavy capital outflows. The PMI index is derived from a survey of 300 purchasing executives in Russian manufacturing, with readings above 50 signalling an increase from the previous month and vice versa. -By Ira Iosebashvili, Dow Jones Newswires; +7 495 232-9192, ira.iosebashvili@dowjones.com Grow-vember: Russian manufacture on the risehttp://rt.com/business/news/russia-manufacturing-november-improvement-619/ Published: 1 December, 2011, 10:12 Russian manufacturing produced its strongest results in eight months in November, as new orders and employment drove production up. A monthly calculated indicator of Russian manufacturing – the HSBC Manufacturing Purchasing Manager Index (PMI) – reached its highest level since March 2011 of 52.6 points, which is above its long-run survey average of 52.1. This marks a major turnaround from almost a flat dynamics during the entire 3Q 2011. PMI Manufacturing readings below 50 mean contraction, with readings above pointing to expansion, for the survey which covers factors such as new orders, output, employment and suppliers’ delivery times. A faster rise in new business was the main driver of the recovery, with the new orders from abroad reaching their second-highest level since March 2008. “Historically, it has been a good lead indicator for the future direction and intensity of business activity in manufacturing,” explained Aleksandr Morozov, Chief Economist (Russia and CIS) at HSBC.
In November Russian manufacturers seem to have broken the usual correlation with major global trends, as eurozone and China performed weak flash PMI reports. “It might be upward biased due to the inclusion of the 2008 data distorted by the economic crisis in the seasonality calculation,” assumed Morozov, remaining, however, generally optimistic. “In any case, risks of stagnation have diminished visibly in November. This is good news, isn’t it?” he said. December 01, 2011 13:17 Russian consolidated budget surplus 2.425 trln rubles for Jan-Sept – Rosstathttp://www.interfax.com/newsinf.asp?id=291491 MOSCOW. Dec 1 (Interfax) - Russia posted a consolidated budget surplus for January-September of 2.425 trillion rubles, well up from 109.7 billion rubles for the same period of last year, the Federal State Statistics Service (Rosstat) reported on Thursday. Consolidated budget revenues, including extra-budgetary state funds, amounted to 15.171 trillion rubles for the nine months (11.419 trillion rubles for the same period last year). Spending was 12.745 trillion rubles (11.310 trillion rubles). The consolidated budget's main tax receipts for the period were: income from foreign economic activity - 3.225 trillion rubles (21.3% of all revenues), mandatory social insurance charges - 2.564 trillion rubles (16.9%), profit tax - 1.773 trillion rubles (11.7%), taxes, fees and regular payments for the use of natural resources - 1.511 trillion rubles (10%), personal income tax - 1.379 trillion rubles (9.1%), VAT on goods sold in Russia - 1.341 trillion rubles, and VAT on goods imported into Russia - 1.057 trillion rubles. Property taxes accounted for 503 billion rubles, excises on gods produced in Russia - 449.3 billion rubles, and excises on goods brought into Russia - 31.2 billion rubles. Of consolidated budget spending for the nine months, expenditures on social and cultural matters amounted to 7.571 trillion rubles, on the national economy - 11.520 trillion rubles, on security and law and order - 944.8 billion rubles, on national defense - 908.4 billion rubles, on government matters - 870 billion rubles, on housing and communal services - 651 billion rubles, and on servicing state and municipal debt - 260.3 billion rubles. The federal budget showed a 1.131-trillion-ruble surplus in January-September (deficit of 692.6 billion rubles for the same nine months last year). Revenues were 8.213 trillion rubles (6.009 trillion rubles) and spending 7.082 trillion rubles (6.701 trillion rubles). Cf (Our editorial staff can be reached at eng.editors@interfax.ru) TABLE-Russian gold/fx reserves fall to $510.2 blnhttp://af.reuters.com/article/commoditiesNews/idAFR4E7LH02P20111201 Thu Dec 1, 2011 8:27am GMT Russia's gold and foreign exchange reserves fell to $510.2 billion in the week to Nov. 25 from $515.1 billion a week earlier, central bank data showed on Thursday. The central bank provided the following figures (in billion dollars): Latest week 510.2 Previous week 515.1 End-2010 479.4 NOTE - The reserves include monetary gold, special drawing rights, reserve position at the IMF and foreign exchange. For full reserves history click on www.cbr.ru (Compiled by Lidia Kelly)
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