Russia’s private sector downturn eases in August – PMI

Russia’s private sector contraction slowed in August, with the S&P Global Composite PMI Output Index rising to 49.1 from 47.8 in July, marking the softest decline in three months, according to data released on Wednesday.

Manufacturers continued to face falling production, while services output was unchanged. New business fell only modestly, supported by slower declines across both sectors.

Employment rose for the first time in six months, with job creation at its fastest pace since February, helping firms manage backlogs. Input cost inflation cooled to its weakest since June 2009, as softer price pressures were reported across manufacturing and services.

Business confidence remained historically strong, underpinned by improved optimism among manufacturers.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser