Russia PMI June 2017

Russia

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.

FocusEconomics Consensus Forecast panelists project Russia’s gross fixed investment to expand 2.0% in 2017, which is unchanged 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 June 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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