MOSCOW, Mar 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) fell to 48.6 in February from 51.8 in January, which signals an overall slight shrinking of activity in the sector, researcher IHS Markit said in a statement on Tuesday.
“Russian goods producers indicated a renewed decline in the health of the sector, according to February PMI data. Operating conditions deteriorated modestly and at the fastest pace since August 2021 as output and new orders fell for the first time in six months. Lower new sales reflected weaker domestic and foreign client demand. Subsequently, manufacturers saw a fall in workforce numbers as pressure on capacity dropped,” the researcher said.
Senior Economist at IHS Markit Sian Jones said, as quoted in the statement, “The Russian manufacturing sector slipped back into contraction territory during February, as dents in customer demand hit production and employment. Weak market demand conditions and the ongoing impact of the pandemic led to the first declines in output and new orders since August 2021, both of which were solid overall.”
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