S&P Global says Russia’s Manufacturing PMI falls to 44.1 in March
MOSCOW, Apr 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) fell to 44.1 in March from 48.6 in February, which signals a sharp deterioration of activity in the sector, S&P Global said in a statement on Friday.
Researcher Markit recently joined S&P Global, before that the index was called IHS Markit PMI.
“The seasonally adjusted S&P Global Russia Manufacturing Purchasing Managers’ Index (PMI) posted 44.1 in March, down from 48.6 in February. The latest data signaled the sharpest decline in operating conditions across the Russian manufacturing sector for almost two years,” S&P Global said.
“A second successive monthly decline in production at Russian manufacturers” contributed to the downturn. “The rate of contraction accelerated notably, however, and was the steepest since May 2020. Where a fall was reported, firms suggested that lower output reflected weak client demand and a drop in new orders,” S&P Global said.