December growth in business activity in manufacturing was the second largest in five years
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In December, the growth rate of business activity in the Russian manufacturing sector slowed down slightly. The corresponding index (PMI) of the manufacturing industries in Russia amounted to 53 points (compared to 53.2 in November), follows from the data of the S&P Global agency. According to S&P analysts, this is the second largest increase in manufacturing business activity since January 2017. Then the index rose to 54.7 points.
A PMI reading above 50 points to an expansion in the manufacturing sector compared to the previous month. Below 50 points means a reduction, and exactly 50 means no change.
“By the end of this quarter, PMI in the manufacturing sector in Russia is expected to be 52.6 points. In the long term, the index of business activity in the manufacturing industry in Russia is projected to be about 50.1 points in 2023 and 50 points in 2024. site companies.
They also noted that in December, employment grew at the fastest pace in more than 21 years.
On December 1, S&P Global reported a record growth rate of industrial activity in Russia since January 2017. Then the index increased to 53.2 points from 50.7 in October.
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