MOSCOW, May 2 (PRIME) -- Russia’s Manufacturing Purchasing Managers' Index (PMI) decreased to 50.8 in April from 52.4 in March, marking the slowest industry expansion rate since August 2016, researcher IHS Markit said in a report released on Tuesday.
The output and new order figures grew at the weakest pace in eight months with the new export orders contracting for the forty fourth month in a row.
Output expectations for the next 12 months were positive but worsened to the
least optimistic since January 2016. Both input and output prices increased.
The purchasing activity of companies grew but employment contracted.
Sian Jones, economist at Markit, said: “Following solid growth in the first quarter the April survey data signal a loss of momentum in the Russian manufacturing sector. Growth in both output and new orders were the slowest for eight months. Meanwhile, business confidence softened with output expectations being the weakest since January 2016. That said, inflationary pressures remained historically weak.”
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