CEIC Leading Indicator for Russia at a 7-month low in November 2021
The CEIC Leading Indicator for Russia dropped to a 7-month low of 104.96 according to the November 2021 flash estimate. The 5.1 drop compared to the previous month is the sharpest since January 2021. The non-smoothed indicator had displayed little volatility between May and October 2021, keeping between 108.9 and 111. The smoothed CEIC Leading Indicator declined for the third month in a row, falling to 107.85 and suggesting that the peak of the business cycle might have passed in August.
Almost all components of the CEIC Leading Indicator for Russia had a lackluster performance in November. The OPEC spot crude oil price for November averaged USD 80.4 per barrel, from USD 82.1 in October. The seasonally adjusted manufacturing production tendency decelerated sharply to 15% from 25.7% in the previous month. Automobile sales on the domestic market have also been stagnant, at 125,466 cars sold, virtually unchanged compared to October and declining by 20.4% on an annual basis. The RTS stock market index closed November at its lowest since July, at 1,645.8 compared to 1,843.8 at the end of October.
More about the Russia CEIC Leading Indicator here
Further data and analysis on Russia’s economy are available on the CEIC Russia Economy in a Snapshot – Q4 2021 report.