Russia’s manufacturing PMI surges in June

Russia’s Manufacturing Purchasing Managers’ Index (PMI) climbed to 54.9 points in June 2024, up from 54.4 points in the previous month, according to a report by S&P Global released recently.

The latest figures underscore a robust expansion in the Russian manufacturing sector, with significant increases in new orders noted halfway through the year. The pace of growth accelerated, driven by sustained demand and new client acquisitions, as reported by industry experts.

Additionally, output levels surged at one of the fastest rates in over seven years, indicating strong production momentum. S&P Global highlighted a resurgence in foreign customer demand, with new export orders rebounding for the first time in three months.

A PMI reading above 50 points indicates expansion in business activity, while a reading below 50 suggests a slowdown.

Attribution: TASS.