Russia’s manufacturing PMI index down to 52.4 points in January
MOSCOW, February 1. /TASS/. The S&P Global Russia Manufacturing Purchasing Managers’ Index (PMI) fell to 52.4 points in January 2024 from 54.6 points in the previous month, S&P Global analytical agency reported.
"Despite stronger business confidence, firms left employment broadly unchanged on the month in response to falling backlogs of work," the report said.
Moreover, the PMI index value in January signals the weakest upturn in the health of the manufacturing sector since July 2023. Although stronger than the series average, the rate of growth eased for the third month running to the slowest since last July. Nevertheless, new orders received by manufacturers expanded at a solid pace in January, as firms noted a sustained uptick in demand conditions and the acquisition of new customers.
The PMI value above 50 points is indicative of the business activity growth and the value below that level flags its slowdown.
