Markit says Russia's Manufacturing PMI falls to 49.2 in June

MOSCOW, Jul 1 (PRIME) -- Russia's Manufacturing Purchasing Managers' Index (PMI) fell to 49.2 in June from 51.9 in May, descending below the 50 no-change mark, which signals an overall decline of activity in the sector, researcher IHS Markit said on Thursday.

“The headline seasonally adjusted IHS Markit Russia Manufacturing PMI registered 49.2 in June, down from 51.9 in May. The latest figure signaled an end to a five-month sequence of improvement in the health of the manufacturing sector. The deterioration in operating conditions was only marginal overall, however,” the report said.

“The Russian manufacturing sector took a step backwards in June, as weak domestic and foreign client demand weighed on the overall sector performance. Although some firms reportedly started to build stocks of finished goods, reduced pressure on capacity led to the first round of job cuts in 2021 so far,” Economist Sian Jones was quoted as saying.

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