MOSCOW, Oct 1 (PRIME) -- Russia's Manufacturing Purchasing Managers' Index (PMI) fell to 48.9 in September from 51.1 in August, below the 50 no-change mark, which signals overall decline, researcher Markit said on Thursday.
“The headline seasonally adjusted IHS Markit Russia Manufacturing PMI® registered 48.9 in September, down from 51.1 in August. The marginal decline in the health of the Russian manufacturing sector was, however, much slower than that seen during the depths of the pandemic earlier in the year,” the report said.
The renewed contraction was driven by a fall in new orders, as client demand weakened. Nonetheless, output continued to rise, and at a solid rate, as firms resumed operations following the loosening of coronavirus disease 2019 (COVID-19) restrictions. Meanwhile, business confidence moderated and employment fell further amid lower new order inflows, it also said.
“The recovery across the Russian manufacturing sector lost momentum in September, as weak client demand hampered any improvement in overall operating conditions. A renewed fall in new orders and a faster drop in external sales drove the decline, despite output rising solidly,” Sian Jones, economist at IHS Markit, commented on the survey.
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