Growth of business activity in the manufacturing industry of Russia slowed down
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The business activity index (PMI) of the manufacturing industries in Russia in June amounted to 52.6 points against 53.5 points in May, follows from S&P Global data. Activity in the Russian manufacturing sector is on the rise for the 14th consecutive month, analysts said, as export orders resumed growth, providing support for new sales.
An index value above 50 points indicates an increase in economic activity, and below it indicates a decline.
According to the press release S&P GlobalDemand growth was robust in June as overall new sales were supported by a rebound in new export orders. Production volume has grown for the 11th month in a row thanks to an increase in the number of new orders and the acquisition of new customers. The level of purchases reached its maximum since February 2008.
At the same time, analysts note, inflation is also growing, due to an increase in the costs of enterprises. This is due to delays in deliveries and subsequent price increases.
In November 2022, manufacturing PMI sharply increased up to 53.2 points. In December, it dropped to 53 points, in January 2023 it reached 52.6 points. In February, the index rose to 53.6 points, in March decreased up to 53.2 points. In April, PMI of manufacturing industries in Russia made up 52.6 points. Despite the decline in the S&P recorded an increase in the number of new orders.
More about business activity – in the material “Kommersant” “Demand is recruiting workers”.
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