Markit: Russia’s Manufacturing PMI falls to lowest in 10 yrs in Sep

MOSCOW, Oct 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) fell to 46.3 in September from 49.1 in August, the lowest figure since May 2009, 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 46.3 in September, down from 49.1 in August. The solid decline in the health of the Russian goods-producing sector was the sharpest since May 2009. The latest quarterly average (48.2) signaled the worst performance across the sector since the second quarter of 2015.”

Russian manufacturers registered the quickest fall in production since April 2009 in September. The decrease in output was largely linked to lower new order volumes and the loss of clients.

“The deterioration in operating conditions across the Russian manufacturing sector gathered pace in September, as the PMI dipped to its lowest since May 2009, following the sharpest contractions in output and new business for over a decade,” Sian Jones, economist at Markit, commented on the survey.

“Weak domestic and foreign demand conditions also weighed on output expectations for the coming 12 months, as business confidence slipped to the lowest since December 2017.”

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