MOSCOW, Aug 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) fell to 50.3 in July from 50.3 in June, staying above the no-change mark of 50 for a second month in a row, research agency S&P Global said in a statement on Monday.
“July data indicated that operating conditions improved only fractionally in the Russian manufacturing sector. Weighing on overall growth was a sharper contraction in output as firms struggled to hire and retain workers amid salary competition,” the agency said.
“Subsequently, workforce numbers declined. Nevertheless, new orders increased for the second month running and at the fastest rate since April 2019. Stronger demand conditions were largely domestically-driven as new export orders contracted again,” it added.
End
|
|
