Russia’s manufacturing PMI index is on a 18-year record high.
This goes beyond just regaining lost ground, this is a dramatic shift towards re-industrialization to curb the effects of foreign sanctions, including the establishing of new supply chain and trade routes (most notably towards the Far East with China, and with Iran) that naturally stimulate growth in previously neglected regions.
One sector that has slowly been declining though, is the mining industry. All other metrics including industrial output, construction, freight turnover, retail, agriculture, electrical consumption (a metric for economic activity) etc. are all trending up.
Russia’s manufacturing PMI index is on a 18-year record high.
This goes beyond just regaining lost ground, this is a dramatic shift towards re-industrialization to curb the effects of foreign sanctions, including the establishing of new supply chain and trade routes (most notably towards the Far East with China, and with Iran) that naturally stimulate growth in previously neglected regions.
One sector that has slowly been declining though, is the mining industry. All other metrics including industrial output, construction, freight turnover, retail, agriculture, electrical consumption (a metric for economic activity) etc. are all trending up.