Markit: Russia’s Manufacturing PMI rises to 49.6 points in May

MOSCOW, Jun 1 (PRIME) -- The Purchasing Managers’ Index (PMI) in the Russian manufacturing sector increased to a four-month high of 49.6 points in May from 48 points in April and got very close to the 50 point mark separating growth of economic activity from contraction, according to a Markit research note published Wednesday.

“Survey data for May pointed to a further worsening of operating conditions in Russia’s manufacturing sector. Driving the contraction was another decline in new order intakes. However, with production levels returning to growth territory and job creation evident for the first time in 35 months, the overall downturn was only slight,” Markit said.

“Russian manufacturers registered a rise in their output levels in May, ending two months of decline. That said, the rate of growth was slight and far weaker than the long-run series average. Meanwhile, finished goods stock held in Russia’s goods producing sector fell for a twenty-fifth successive month in May.

“Latest survey data signaled the first rise in purchasing activity at Russian goods producers for four months. Moreover, the increase in May was the sharpest in eighteen months despite being relatively slight overall.”

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