Russia: Manufacturing PMI falls in August
September 1, 2017
Business activity in Russia’s manufacturing sector lost steam in August. The Manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit fell from 52.7 in July to 51.6. As a result, the PMI lies closer to the 50-threshold that separates expansion from contraction in the sector.
Slower growth in output and new orders drove the downturn in the index in August. In addition, manufacturers shed jobs and business confidence fell to the lowest level since January 2016. Regarding prices, firms reported that price pressures increased largely due to fluctuations in the value of the ruble.