S&P Global: Russia’s Manufacturing PMI falls to 52.6 in April
MOSCOW, May 2 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) fell to 52.6 in April from 53.2 in March, above the no-change mark of 50, research agency S&P Global said in a statement on Tuesday.
“Russian manufacturing firms registered a modest upturn in the health of the sector during April, according to the latest PMI data from S&P Global. Overall growth was driven by further increases in output and new orders, with firms expanding their workforce numbers at a faster pace,” the agency said.
“Greater employment allowed firms to work through their backlogs at a quicker rate, as work-in-hand fell solidly. At the same time, vendor performance neared stabilization amid reports of improving logistics. Expansions in production and input buying were reflected in greater stock levels,” the agency said.