In November 2023, the Purchasing Manager’s Index (PMI), calculated by the Center for Economic Research and Reform (CERR), amounted to 1020 points, marking an increase of 2.0% compared to the previous month, as per the Review.uz. This also represents a 5.7% increase in PMI compared to the same period last year.
Changes in PMI Components
The business activity index in November 2023 increased by 2.0% compared to the previous month and amounted to 1020 points. This increase is attributed to changes in the following components:
- The number of operations on bank accounts of economic entities increased by 10.4%.
- The component related to existing business entities increased by 0.4%.
- The intensity of the purchase of raw materials at the commodity exchange decreased by 2.3%.
- The trademark component decreased by 27.4%.
Regional Growth: Syrdarya Leads the Way
In November 2023, the Purchasing Manager’s Index for 7 regions increased compared to the previous month. In particular, Syrdarya (42.8%), Surkhandarya (31.7%) and Andijan (19.8%) regions showed significant growth.
Operations with bank accounts
The number of interbank payment transactions in November 2023 amounted to 6.7 mn, marking an increase of 634,500 transactions (an increase of 10.4%), compared to October 2023.
In November 2023, the number of banking transactions between legal entities increased in 5 regions compared to the previous month. In particular, growth was observed in the city of Tashkent (15.2%), as well as in Syrdarya (7.8%), Ferghana (5.9%), Andijan (4.1%), Namangan (0.2%) regions.
At the same time, in 9 regions there was a decrease in the number of banking transactions between legal entities. A significant decrease was noted in the Republic of Karakalpakstan (- 27.5%), as well as in Surkhandarya (-19.1%), Samarkand (- 10.5%), Kashkadarya (- 7.6%) and Navoi (- 7.4%) regions.
Activity on commodity exchange
In November 2023, the exchange component of the PMI amounted to 0.9771. This means a decrease in the component level by 2.3% compared to the previous month. This decline is due to a 13.2% decrease in the number of transactions. At the same time, the average physical volume of goods purchased in each transaction increased by 8.6%.
On the Republican Commodity Exchange, the total turnover in November 2023 amounted to UZS 5.9 trillion ($478.1mn), which is 14.9% less than in the previous month.
Activity of business entities
The component of existing business entities in November 2023 amounted to 1,004, which means an increase in the component by 0.4% compared to the level of the previous month. In addition, this indicator is negative compared to the same period last year with a significant decline of 12.8%.
The number of operating entities in November 2023 increased by 2,009 units compared to October 2023 (517,738 units) and amounted to 519,747 units.
During the reporting period, the number of small enterprises increased from 422,586 to 424,695, an increase of 2,109. At the same time, the number of farms decreased from 91,468 to 91,351 units, which is less than 117 units. The number of operating large enterprises amounted to 3,701 units, which is 17 more than in October 2023.
Brand registration
In November 2023, the index of protected trademarks was 0.7258, which means a decrease of 27.4% compared to the previous month. This month, 180 trademarks and trade names were registered by legal entities.
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