Industry in Russia and the world. PMI for July.


 HSBC has already considered the July PMI for many countries (to be updated).


  • Japan 47.9, down from 49.9 in June
  • Netherlands: — 48.9, unchanged from 48.9 in June
  • South Korea: — 47.2, down from 49.4 in June
  • China's official — 50.1, down from 50.2 in June
  • Taiwan — 47.5, down from 49.2 in June
  • Vietnam: — 43.6, down 46.6 in June
  • China HSBC — 49.3, up from 48.2 in June
  • Indonesia — 51.4, up from 50.2 in June
  • India — 52.9, down from 55.0 in June
  • Russia52.0, up from 51.0 in June
  • Ireland: — 53.9, up from 53.1 in June
  • Poland: — 49.7, up from 48.0 in June
  • Turkey: — 49.4, down from 51.4 in June
  • Spain: — 42.3, up from 41.1 in June
  • Czech Republic: — 49.5, up from 49.4, in June
  • Italy: — 44.3, down from 44.6 in June
  • France: — 43.4, down from 45.2 in June
  • Germany: — 43.0, down from 45.0 in June
  • Britain, the index in construction — 45.4, , 48.6 in June
  • Greece — 41.9, up from 40.1 in June


Index PMI (industrial) estimates the number of new orders compared with the previous period. Sales of manufactured goods rose — then production will soon increase. Index above 50 indicates growth in sales and thus predicts the increase in production in the coming months. The growth index is the second derivative — he predicts the acceleration / deceleration of growth. Separately, I note, to compare the index in different countries is not entirely correct. Most of the specifics of the inside. But that's more or less than 50% and growing month to month — an important indicator of the health of the economy.


However, note the slowing of production — finished products are sold (PMI therefore increases), manufacturers are preparing for a possible drop in orders not to stop abruptly conveyor when the clap of thunder. It's sad, on the other hand, to go as smoothly as possible without the crisis of unemployment, you need to have at least half a year the opportunity to work at the warehouse, while the primary shock has passed and the orders do not come back:



 The PMI manufacturing sectors rose in July to reach 52.0 from 51.0 in June. "Some improvement in the dynamics of Russian manufacturing sector in July — this is positive news, which contrasts with the weak PMI results for many other countries," — said the chief economist at HSBC in Russia and the CIS Alexander Morozov.

"However, the details of the study of the Russian Bank HSBC PMI index showed a mixed picture in the various sectors. Sector consumer products, based on the fast-growing demand, increased production and employment.

At the same time, producers of intermediate goods sector, suffering from a decline in domestic demand, reduced production volumes and number of employees. Slight increase in new export orders was not able to provide significant support to the sector, "- said Morozov.

According to him, in the production managed to maintain a slight increase in the first place, relying on domestic sources of growth. The Bank does not rule out the slowdown in consumer demand due to increasing inflation and a decline in oil prices, which could lead to slower growth in the manufacturing sector in the coming months.

"Manufacturers are preparing for difficult times ahead, and the highest rate of decline in stocks since October 2009 talking about tuning the level of production by the potential weakening of demand", — said Morozov.


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