Russia PMI July 2021

Russia: Manufacturing PMI records worst reading since November 2020 in July

The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 47.5 in July from June’s 49.2. July’s result marked the weakest reading since November 2020. As a result, the index fell further below the 50-threshold, signaling a sharper deterioration in business conditions compared to the previous month.

Commenting on the result, Siân Jones, a senior economist at IHS Markit, said:

“Russian manufacturers signalled a further downward trend in the health of the sector during July. A stronger fall in new orders drove a renewed decline in output, and one that was the fastest since the depths of the pandemic in May 2020 […] Weak client demand and sharp increases in costs dampened optimism, which was in turn reflected in a solid drop in employment as pressure on capacity dwindled.”

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