The index of business activity in the manufacturing industry fell to 52.6 points from 53.2 in March
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The business activity index (PMI) of the manufacturing industries in Russia in April amounted to 52.6 points against 53.2 points in March, according to S&P Global. Analysts recorded a decline in industrial production, but noted an increase in export orders for the first time in 15 months.
An index value above 50 points indicates an increase in economic activity, and below it indicates a decline.
According to press release, in April, the sector recorded the weakest growth since January, also due to a small number of new orders. At the same time, employment increased at the fastest pace since June 2006, and productivity “closer to stabilizing amid reports of improved logistics.”
Speaking of pricing, S&P Global noted the increase in production cost inflation to its highest level in a year. Analysts attribute this to price increases by suppliers. It is noted that business sentiment has generally improved “against the backdrop of hopes for increased customer demand.”
In November 2022, manufacturing PMI sharply increased up to 53.2 points. In December, it dropped to 53 points, in January 2023 reached 52.6 points. In February it rose to 53.6 points, in March decreased up to 53.2 points. Despite the decline in the S&P recorded an increase in the number of new orders.
About the business climate in the Russian Federation – in the material “Kommersant” “Business is full of spring hopes”.
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