Russia PMI May 2017

Russia

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.

FocusEconomics Consensus Forecast panelists project Russia’s gross fixed investment to expand 2.1% in 2017, which is up 0.1 percentage points from last month’s forecast. Panelists expect the economy to expand 2.8% in 2018.


Author: Angela Bouzanis, Senior Economist

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Russia PMI Manufacturing May 2017

Note: IHS Markit Manufacturing Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction.
Source: IHS Markit.


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