MOSCOW, Oct 1 (PRIME) -- Russia’s Manufacturing purchasing manager’s index (PMI) grew to 50.0 in September from 48.9 in August, right at the 50 no-change mark, meaning no deterioration or improvement of the conditions, researcher Markit said in a statement on Monday.
“Following a four-month sequence of contraction, the Russian manufacturing sector signalled no change in operating conditions in September. Output and new orders entered growth territory once again, despite reports of fragile demand conditions. The bright spot came from foreign client demand, with new export orders rising at the fastest pace since April,” Sian Jones, economist at Markit, said, as cited in the report.
“That said, foreign and domestic demand conditions have reportedly stemmed from a weak currency. Higher purchase prices for imported goods were reflected in a marked rise in cost burdens and subsequently a sharp increase in charges,” Jones said.
For further details, see the report on Markit’s official website:
https://www.markiteconomics.com/Public/Home/PressRelease/681cf86cfd88440b831bee0317746443
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