Russia PMI May 2018


Russia: Manufacturing PMI drops into contractionary territory in May

May 7, 2018

Business conditions in Russia’s manufacturing sector deteriorated notably in May. The manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, fell from 51.3 in April to 49.8 in May, the worst reading since July 2016. As a result, the PMI lies below the 50-threshold that separates contraction from expansion in business activity in the sector.

According to IHS Markit, growth in new orders and output lost pace in May, while employment and stocks of purchases fell driving the decline in the index. Business sentiment also slipped, although still remained healthy overall. Regarding inflation, a weak ruble caused price pressures to remain high in May, recording the second-highest rise charge inflation seen in the nearly two years.

FocusEconomics Consensus Forecast panelists project fixed investment will expand 2.7% in 2018, which is unchanged from last month’s forecast. In 2019, the panel expects fixed investment to grow 3.0%.


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Russia PMI Chart

Russia PMI Manufacturing May 2018 0

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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