S&P Global: Russia’s Manufacturing PMI rises to 52.7 in August

MOSCOW, Sep 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) grew to 52.7 in August from 52.1 in July, above the no-change mark of 50, S&P Global said in a statement on Friday.

"Russian manufacturing production continued to expand midway through the third quarter of the year on the back of solid new order growth. That said, inflationary pressures intensified again due to currency weakness, pushing rates of input cost and output price inflation to the strongest in 17 and 16 months respectively," the researchers said.

New order increase peaked in three months on the back of a steep rise in export orders. The output expanded for a thirteenth month, although at a marginal rate. Input prices surged at the highest rate since March 2022 on the back of the weakness of the national currency, the rise of output ones was the strongest in 16 months.

Logistical troubles continued in the period, as reported by representatives of the surveyed companies. The outstanding business fell for an eighth month in a row.

End