MOSCOW, Mar 1 (PRIME) -- Russia’s Manufacturing purchasing managers’ index (PMI) fell to 52.5 points in February from 54.7 points in January, researcher Markit said in a statement on Wednesday.
“Growth of Russia’s manufacturing sector moderated in February, following an acceleration seen at the start of the year. Both output and new orders rose more slowly, although the respective expansions remained solid overall. Relatively muted cost pressures enabled firms to lower their charges for the first time in 19 months, with discounts linked in some cases to efforts to stimulate demand,” Markit said.
“Despite falling to the lowest in four months, the latest reading still pointed to an improvement in business conditions that was strong relative to the long-run average.”
Senior Economist Paul Smith said that Russia’s manufacturing upturn continued in February, but latest PMI figures signaled a loss of momentum. Rates of growth in output, new orders and employment all eased from January peaks. With client demand improving at a weaker rate, companies lowered their selling prices for the first time in 19 months amid a slower rise in purchase costs.
“That said, February data still pointed to a sector in good health. Business conditions improved strongly relative to the long-run average. Most encouragingly, optimism picked up to the brightest since May 2015,” Smith said.
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