The seasonally adjusted IHS Markit Russia Services Business Activity Index fell further in November to 47.1, down from 48.8 in October and the second consecutive monthly fall as the post-COVID bounce-back peters out.
The headline seasonally adjusted IHS Markit Russia Manufacturing PMI posted 51.7 in November, fractionally higher than 51.6 recorded in October, but the upturn was the fastest in six months.
Real wages in Ukraine rose 4.0% year on year in October, slowing from 6.9% y/y growth in September, the State Statistics Service reported on November 29.
Russia’s industrial production growth accelerated to 7.1% y/y in October from 6.9% y/y in September, which meant output was up 5.0% y/y in 10m21, Rostat reports.
After a 0.7% decline in September in October 2021, industrial production in Ukraine returned to growth and grew by 1.4% compared to October 2020, the State Statistics Service reported on November 23.
Ukraine retail trade slows to 5.6% growth in October
The Russian economy grew 4.3% y/y during the third quarter, but the post-coronavirus recovery is almost over. The result was below Bloomberg consensus (+4.5% y/y) and much slower than the second-quarter result.
Ukraine GDP growth slows to 2.4% in 3Q21 from 5.7% in the second quarter as the low base effects wear off, UkrStat estimates
Russia’s new car and light commercial vehicle market saw the fourth consecutive month of year-on-year decline in October, as the sales took another cut of 18% y/y to 0.126mn.
Ukraine’s economic recovery is likely to gain momentum over the remainder of 2021, the European Bank for Reconstruction and Development (EBRD) says in its latest Regional Economic Prospects (REP) report, published on November 4.
The seasonally adjusted IHS Markit Russia Services Business Activity Index registered 48.8 in October, down from 50.5 in September, to signal the fastest contraction in Russian service sector business activity since December 2020.
Russia's unemployment rate decreased to 4.3% in September 2021 from 4.4% in the previous month and below market forecasts of 4.5%.
Retail sales in Russia surged 5.6% year on year in September of 2021, accelerating from a 5.3% increase in the previous month, above market expectations of a 3.8% rise.
The headline seasonally adjusted IHS Markit Russia Manufacturing PMI registered 51.6 in October, up from 49.8 in September, and signalled the first improvement in the health of the Russian manufacturing sector for five months.
The central bank said it stands by its 2021 prediction of 9.6% inflation for Ukraine, slowing to 5% at the end of 2022.
Ukraine’s real GDP increased 2.9% y/y in 8M21, accelerating from a 2.1% y/y growth in 7M21.
In January-August 2021 Belarus' GDP rose by 3%, while the foreign trade surplus exceeded $2bn and beat the record of the year 2013.
Belarus' gold and foreign currency reserves totalled $8,459.9bn as of 1 October, 2021, according to the National Bank of the Republic of Belarus (NBRB) preliminary data, reports BelTA.
In September 2021 the index of consumer prices for goods and services totalled 101.3% as against August 2021 and 107.5% as against December 2020, according to the National Statistics Committee of Belarus.
The International Monetary Fund (IMF) downgraded Ukraine’s economic forecast for 2021 to 3.5% GDP growth from 4% in its April prognosis, according to the IMF’s World Economic Outlook (WEO) released on October 12.