Markit: Russia’s manufacturing PMI falls to 52.4 in March

MOSCOW, Apr 3 (PRIME) -- Russia’s manufacturing purchasing managers' index (PMI) decreased to 52.4 in March from 52.5 in February but was still above a 50 no-change mark, which implies an overall expansion of the sector, researcher IHS Markit said in a report on Monday.

“The Russian manufacturing sector continued to expand solidly in March. The latest PMI data suggest that the sector will contribute to overall economic growth this year, with IHS Markit currently forecasting a 1.0% rise in gross domestic product (GDP) over 2017 as a whole,” the researcher said quoting Sian Jones, economist at the company, as saying.

The average PMI for January–March was the same as for October–December 2016, and these two quarters were the strongest in terms of growth since January–March 2011.

Both output and new orders were increasing in the reported period despite a strong contraction of export orders. Input prices rose, while output prices fell in March. Employment decreased marginally.

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