Markit: Russia’s Manufacturing PMI rises to 51.3 in April

MOSCOW, May 3 (PRIME) -- Russia’s Manufacturing PMI (Purchasing Managers' Index) grew to 51.3 points in April from 50.6 points in March, researcher Markit said in a statement on Thursday.

The index was above the 50 no-change mark, which signified an overall expansion.

“The seasonally adjusted IHS Markit Russia Manufacturing Purchasing Managers’ Index – a composite single-figure snapshot of the performance of the manufacturing economy – posted 51.3 in April, up from 50.6 in March and indicating a modest improvement in operating conditions across the Russian manufacturing sector. The latest reading was the highest in three months but just below the long-run series average since late-1997,” Markit said.

Production levels of Russian producers of goods grew further in April at the fastest pace since January. Participants of the research linked the increase in production to acquisition of new clients and greater volumes of new orders.

“In line with stronger client demand, new orders received by manufacturing firms grew at an accelerated rate. That said, the expansion was only marginal overall and one of the weakest in the current 21-month sequence of growth. New export orders increased strongly, however. Moreover, the upturn was the fastest since March 2008,” the statement read.

Client demand resulted in the first increase of employment in 2018, with the job creation level being fastest since January 2017.

For further details, see the statement on Markit’s official website:

https://www.markiteconomics.com/Survey/PressRelease.mvc/49f42a7836874fb0bcea2cacdc33a6ec

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