Markit says Russia's Manufacturing PMI falls to 46.5 in August

MOSCOW, Sep 1 (PRIME) -- Russia's Manufacturing Purchasing Managers' Index (PMI) fell to 46.5 in August from 47.5 in July, staying lower than the 50 no-change mark, which signals an overall decrease of activity in the sector, researcher IHS Markit said in a statement on Wednesday.

"Russian manufacturers saw the health of the sector continue on a downward trajectory during August, as demand conditions weakened further. Total sales fell at a quicker pace amid worsening domestic and foreign customer demand," Economist Sian Jones was quoted as saying.

New orders decreased at the fastest pace since November 2020, new export orders fell at the highest pace since May 2020. Work backlogs fell, and companies lost jobs at the steepest pace in nine months. Inflation pressure shed but companies raised prices. Raw material shortages continued but business confidence grew on expectations of a growth in demand.

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