S&P Global: Russia’s Manufacturing PMI grows to 50.9 in June

MOSCOW, Jul 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) rose to 50.9 in June from 50.8 in May, 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 Friday.

The amount of new orders started growing again, but the output continued falling as exports are plummeting and raw materials are in a shortage. The higher cost of imported materials resulted in higher input prices, but cost inflation slowed down to the slowest since February 2020.

Employment in the sector returned to growth, with long-term sentiment supported by new order inflows. Business confidence was at the highest point since February 2022 as companies hope for greater client demand and for economic conditions to stabilize.

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