Growth in business activity in Russia’s manufacturing industries slowed in January
[ad_1]
The business activity index (PMI) for the manufacturing industries of the Russian Federation in January amounted to 52.4 points. In December 2023, it was at 54.6 points.
A PMI value above 50 points indicates growth in economic activity, below – a decline. Business activity research is conducted by S&P Global (.pdf).
The estimate marks the weakest recovery in the manufacturing sector since July 2023, S&P Global said. Growth rates have slowed for the third month in a row. At the same time, improved working conditions extended the growth of business activity to 21 months. The volume of new orders from manufacturers is also growing. Firms note improved demand conditions and attracting new customers.
In December, the growth rate of business activity in the Russian manufacturing industries was at its highest level in seven years. PMI was 54.6 points versus 53.8 in November.
A Bank of Russia study published in January also records a decline in business activity in the economy. This is primarily due to estimates of demand and output.
Read more about the Central Bank’s assessment in the Kommersant article. “The decline in business activity has affected the labor market”.
[ad_2]
Source link
