Russia PMI March 2024

Russia: Manufacturing PMI rises to over 17-year high in March

The S&P Global Russia Manufacturing Purchasing Managers’ Index (PMI) rose to 55.7 in March from 54.7 in February, the best reading since August 2006. As a result, the index moved further above the 50.0 no-change threshold and signaled a faster improvement in manufacturing sector operating conditions compared to the previous month.

In March, new orders expanded at the fastest rate in over 16 years owing to stronger demand conditions, successful marketing campaigns, new client acquisitions and a renewed uptick in new export orders. The increased demand led manufacturers to raise their production levels, resulting in the fastest output growth since January 2017 and the quickest rise in employment since November 2000.

Turning to prices, both input and output charge inflation rates eased in March. Lastly, business confidence among firms rose to its highest level in five years amid stronger demand conditions and plans for investment in new product lines and machinery.

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