Russia: Manufacturing PMI falls to 11-month low in June
July 3, 2017
Business activity in Russia’s manufacturing sector lost steam in June. The Manufacturing Purchasing Managers’ Index (PMI) produced by IHS Markit fell from 52.4 in May to 50.3, the worst result in nearly a year. As a result, the PMI lies just above 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 addition, manufacturers shed jobs at a sharp pace while input price inflation picked up. However, the degree of optimism among manufacturers was high—a bright spot in the survey.