Russia: Economic conditions improve in May
June 5, 2017
Business activity in Russia’s manufacturing sector picked up in May. The Manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit rose from 50.8 in April to 52.4 in May. As a result, the PMI moved further above the 50-threshold that separates expansion from contraction in the sector.
The rise was driven by expanding output, which grew for a 13th consecutive month, fueled by rising new orders. Input cost inflation eased slightly while firms shed jobs, but at a more modest pace than in the previous month. Manufacturers reported a positive outlook for the year ahead.
Regarding the services sector, the Services PMI increased from 56.1 in April to 56.3 in May. According to IHS Markit, solid demand and a rise in new orders supported growth in the sector.