Statistics: Oct business confidence falls in production, processing

MOSCOW, Oct 27 (PRIME) -- Russia’s business confidence index decreased by 3 percentage points in the producing and by 5 percentage points in the processing industries in October, the Federal State Statistics Service said on Tuesday.

“The business confidence index, which reflects generalized entrepreneurs’ behavior, amounted to minus 3.0% in the mineral production sector and to minus 5.0% in the processing industries in October 2020,” the statement said.

The economic situation in a company was deemed positive by 9% of managers and satisfactory by 72% of managers in the production of raw materials, while the figures for the processing industry stood at 9% and 73%, respectively.

A better situation in the next six months was expected by 17% of respondents in the mineral production industry and 23% in the processing industry. The number of optimists in the mineral production sector exceeded the amount of pessimists by 8 percentage points, and in the processing industry by 11 percentage points.

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