Russia finished 2020 with a milder than expected 3.1% contraction, according to preliminary data from the Economics Ministry released on February 1.
Russian President Vladimir Putin’s popularity slumped to 53%, according to the state-owned pollster, the Russian Public Opinion Research Centre (VTsIOM), in the wake of a brutal crackdown by police on weekend demonstrations
Index moves up to 54.1 from 50.8 in December. Raw material shortages meant inflationary pressures remained marked.
Fall in both annual and monthly terms as new restrictions to contain COVID-19 were imposed in December.
The IHS Markit Russia Manufacturing PMI posted its first gain since August 2020, rising to 50.9 in January, up from 49.7 in the last month of 2020, the first gain in five months. Any result above 50 is an expansion of business.
GDP falls a better than initially predicted 2.8% in 2020.
Industrial production returned to a positive trend after declining for nine months in a row as a result of the coronavirus pandemic.