Markit says Russia's Manufacturing PMI rises to 51.9 in May

MOSCOW, Jun 1 (PRIME) -- Russia's Manufacturing Purchasing Managers' Index (PMI) rose to 51.9 in May from 50.4 in April, staying above the 50 no-change mark, which signals an overall expansion of activity in the sector, researcher IHS Markit said in a statement on Tuesday.

“The headline seasonally adjusted IHS Markit Russia Manufacturing PMI registered 51.9 in May, up from 50.4 in April. The improvement in operating conditions across the Russian manufacturing sector was modest overall, and the sharpest in over two years. May data also signaled the fifth successive monthly expansion across the sector,” the report said.

Output growth gained momentum in May, as the rate of the upturn quickened to the fastest since February, the researcher said. Greater production was widely attributed to a renewed increase in new order inflows and stronger client demand.

“Russian manufacturers saw a modest improvement in operating conditions in May, and the sharpest since March 2019. Contributing to the upturn was a renewed rise in new orders, as domestic and foreign client demand strengthened,” Economist Sian Jones was quoted as saying.

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