Russia Manufacturing Downturn Eases In August

(RTTNews) - Russia's factory activity deteriorated further in August amid continued contractions in new orders and output, survey results from S&P Global showed on Monday.

The manufacturing purchasing managers' index, or PMI, climbed to 48.7 in August from 47.0 in July. However, any reading below 50 indicates contraction.

The overall downturn in August was due to weak demand conditions and a reduction in new orders. New export orders also declined amid muted demand from clients in existing markets.

In line with lower new order intakes, goods producers reduced their input buying and purchasing activity.

Looking ahead, firms remained confident about output expectations over the next twelve months. As a result, manufacturers added workforce numbers, with the rate of job creation rising to the fastest pace since July 2024.

On the price front, input price inflation softened in August due to favorable exchange rate movements and lower demand for inputs. Consequently, selling prices showed a renewed decline, the first in almost three years.