Markit: Russia’s Manufacturing PMI falls to 48.3 in March

MOSCOW, Apr 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) decreased to 48.3 in March from 49.3 in February, remaining under a 50 threshold, which signifies a sectorial downturn, according to a Markit research note published on Friday.

“Demand conditions returned to a state of deterioration, as incoming new orders from both domestic and international markets contracted. This lack of consumption contributed to a fall in output,” Samuel Agass, an economist at Markit, said.

Russian factories saw a decrease in production for the first time in three months. New orders by domestic customers started falling after two months of increase; foreign orders continued decreasing for a 31 month in a row.

Russian industry continued to shed jobs, in March the decrease was the fastest in 14 months.

Both input and output prices continued to rise.

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