Russian manufacturing growth softens in July – PMI

Russia’s manufacturing PMI dropped to 53.6 in July 2024 from 54.9 the previous month, indicating a solid but slower expansion in the sector, according to S&P Global survey released on Thursday.

Despite remaining above the series average, the growth rate was the slowest in six months.

July saw continued increases in new orders, extending growth since June 2022, though the pace of expansion was the weakest in a year.

PMI values above 50 signal growth, while values below this threshold indicate a slowdown.

Attribution: TASS & PMI report