Markit says Russia’s Manufacturing PMI drops to 51.6 in December

MOSCOW, Dec 29 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) fell to 51.6 in December from 51.7 in November, which signals an overall slight shrinking of activity in the sector, researcher IHS Markit said in a statement on Wednesday.

“The headline seasonally adjusted IHS Markit Russia Manufacturing PMI registered 51.6 in December, broadly in line with 51.7 in November. Although marginal, the latest data indicated a third successive monthly improvement in operating conditions across the sector, with the rate of expansion stronger than the long-run series average,” the researcher said.

Senior Economist at IHS Markit Sian Jones said, as quoted in the statement, “The Russian manufacturing sector signaled relatively steady growth in output and new orders at the end of 2021. That said, pressure on capacity waned again and job creation slowed.”

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