S&P Global: Russia’s Manufacturing PMI falls to 52.1 in July

MOSCOW, Aug 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) fell to 52.1 in July from 52.6 in June, above the no-change mark of 50, S&P Global said in a statement on Tuesday.

"The overall expansion was in part driven by sustained upturns in output and new orders, although in both cases the rate of growth slowed,” the statement said.

“New sales rose at the softest pace in 2023 to date as new export orders returned to contraction. Nonetheless, goods producers expanded employment at a solid pace, with backlogs of work being depleted as a result."

Export sales decreased in the period, and the output grew at the lowest rate on the year. Input costs grew at the highest rate since April 2022. Sales prices increased at the steepest pace in 15 months.

Business outlook of manufacturers for the next year was the most optimistic since March 2019 on the back of larger demand, rising new orders and investment plans in product development.

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