Markit: Russia’s Manufacturing PMI falls to 51.8 in April

MOSCOW, Apr 30 (PRIME) -- Russia’s Manufacturing purchasing managers' index (PMI) fell to 51.8 in April from 52.8 in March, staying above the 50 no-change mark, researcher IHS Markit said in a research note on Tuesday.

“The seasonally adjusted IHS Markit Russia Manufacturing Purchasing Managers’ IndexTM (PMI) – a composite single-figure snapshot of the performance of the manufacturing economy – registered 51.8 in April, down from 52.8 in March. The modest improvement in the health of the manufacturing sector was the second-strongest since last November and broadly in line with the series trend,” the report said.

Russian manufacturers registered a moderate improvement in operating conditions in April, supported by a solid rise in production and a strong increase in client demand.

Despite a further monthly rise in new orders, employment fell for the second time in four months.

“Russian manufacturers signaled a moderation in overall growth in April, following a spike in output and new orders in March. A fall in employment, coupled with softer production and new business expansions contributed to the lower headline PMI reading,” Markit said quoting Economist Sian Jones.

“Meanwhile, cost inflation eased from January’s VAT-driven record, but firms were still able to raise charges at a solid pace.”

“Panelists remained robustly optimistic of a rise in output over the coming 12 months, despite forecasts of a slowdown in manufacturing growth through 2019. IHS Markit currently expects industrial production to rise 2.0% in 2019, down from 2.9% in 2018 and largely driven by oil and gas output.”

End