S&P Global: Russia’s Manufacturing PMI rises to 53.5 in May

MOSCOW, Jun 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) grew to 53.5 in May from 52.6 in April, above the no-change mark of 50, research agency S&P Global said in a statement on Thursday.

“Russian manufacturing firms indicated a stronger improvement in the health of the sector during May, according to the latest PMI data from S&P Global. Overall growth was supported by faster expansions in output and new orders, with employment rising at the sharpest pace for 22-and-a-half years,” the agency said.

Hiring activity and business confidence was buoyed by further anticipated increases in new orders, with firms also stepping up their purchasing activity in line with greater production requirements,” the agency also said.

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