The growth of business activity in Russia was lower than in December
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The business activity index (PMI) of the manufacturing industries of Russia in January amounted to 52.6 points against 53 points in December, informs S&P Global. According to analysts, the state of the Russian manufacturing sector has improved, but the recovery was “the slowest pace in the last three months.”
An index value above 50 points indicates an increase in economic activity, and below it indicates a decline.
In October 2022, manufacturing PMI, according to S&P Global, was to 50.7 points, and in November sharply increased up to 53.2 points. These growth rates were the highest since January 2017. Meanwhile, business activity in the service sector in Russia declining third month in a row.
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