Markit says Russia’s Manufacturing PMI rises to 51.8 in January

MOSCOW, Feb 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) rose to 51.8 in January from 51.6 in December 2021, which signals an overall slight improvement of activity in the sector, researcher IHS Markit said in a statement on Tuesday.

“The headline seasonally adjusted IHS Markit Russia Manufacturing PMI registered 51.8 in January, up slightly from 51.6 in December. Although only marginal, the overall upturn in operating conditions across the Russian manufacturing firms was the quickest since May 2021,” the researcher said.

Senior Economist at IHS Markit Sian Jones said, as quoted in the statement, “Russian firms signaled an encouraging start to 2022 as domestic and foreign client demand conditions improved. That said, raw material shortages and transportation delays hampered output growth which eased to the slowest for four months. A slower expansion in production also stymied efforts to clear backlogs of work which rose for the first time since August 2017.”

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