Markit says Russia's Manufacturing PMI falls to 47.5 in July

MOSCOW, Aug 2 (PRIME) -- Russia's Services Purchasing Managers' Index (PMI) fell to 47.5 in July from 49.2 in June, 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 Monday.

"Russian manufacturers signaled a further downward trend in the health of the sector during July. A stronger fall in new orders drove a renewed decline in output, and one that was the fastest since the depths of the pandemic in May 2020," Economist Sian Jones was quoted as saying.

New orders fell for a second month in a row and at a fastest rate since November 2020. Cost burden increased significantly as cost inflation decelerated to the lowest in ten months but input prices rose due to higher supplier costs and the currency exchange rate changes. Job loss rate was the fastest since November 2020.

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