Markit: Russia's Manufacturing PMI rises to 36.2 in May

MOSCOW, Jun 1 (PRIME) -- Russia's Manufacturing Purchasing Managers' Index (PMI) grew to 36.2 in May from 31.3 in April,  below the 50 no-change mark, which signals an overall contraction, researcher Markit said in a statement Monday.

"May data indicated a slightly softer, albeit still severe contraction in Russian manufacturing production. Declines in domestic and foreign demand weighed on output, as the impact of the COVID-19 outbreak and emergency measures were felt yet again by goods producers," analyst Sian Jones said, as cited in the statement.

Jones said that manufacturers did not expect recovery in 12 months, which led to reduction of employment and to excessive capacity.

New orders fell at the strongest rate since December 2008.

Markit forecasts annual contraction of Russia's manufacturing output until April–June 2021. 

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