Business activity in the manufacturing industry in Russia grows for the 13th month in a row
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The index of business activity of the manufacturing industries of the Russian Federation increased to 53.5 points in May against 52.6 points in April. This is stated in research analytical company S&P Global. The growth of business activity in this sector continues for the 13th month in a row.
An index value above 50 points indicates an increase in business activity, below – its slowdown.
According to S&P Global analysts, the growth was supported by the expansion of production and new orders. Output rose the most since March 2019, with new orders accelerating and being among the sharpest in more than four years. The number of work in progress in May also decreased. It is also noted that employment is growing at the fastest pace in the last 22 years. Note that yesterday Rosstat reported that unemployment in the Russian Federation in April fell to a new historical low of 3.3%.
S&P Global also notes that preliminary production stocks have been depleted amid a continuing increase in delivery delays. Export orders, according to analysts, fell again after a slight increase in April. Input cost inflation also rose due to supplier prices and an unfavorable exchange rate.
On the situation in the Russian economy – in the material “Kommersant” “Statistics does not hurry GDP”.
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