Russia PMI April 2019

Russia

Russia: Manufacturing PMI falls from over-two year high in April

April 30, 2019

The manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit eased from 52.8 in March, the best reading since January 2017, to 51.8 in April. Despite the fall, the index lies above the critical 50-point mark separating expansion from contraction in activity in the manufacturing sector.

April’s result reflected softer growth in new orders and production, although both continued to increase at a still-solid rate. Meanwhile, firms shed jobs in April and backlogs of orders fell signaling lingering spare capacity. Optimism among Russian manufacturers, however, stayed solid in April recording the second-strongest reading since May 2013. Regarding inflation, prices pressures moderated in April but remained sharp.

FocusEconomics Consensus Forecast panelists project fixed investment will expand 1.9% in 2019, which is unchanged from last month’s forecast. In 2020, the panel expects fixed investment to grow 3.0%.


Author: Angela Bouzanis, Lead Economist

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