“Those PMI indexes are not looking good”, this seems to be the message that is coming from the Russian economy to the rest of the World, and it’s pretty scary
(original publishing date 02/10/15)
Russia is likely moving towards a recession period, and PMI indexes are crying in pain:
Note that the trend is clear in both manufacturing and service PMI, and this correlation has never been a good sign for GDP.
Maybe Russia should prepare for a hot year, and, if you understand Russian, you will know that few days ago an important columnist wrote on the main economic newspaper of the country that people should really consider pullling their money out of banks.