Russia Manufacturing Downturn Eases In September

(RTTNews) - Russian manufacturing activity remained in contraction in September, though the downturn was only marginal, survey results from S&P Global showed on Thursday.

The manufacturing purchasing managers' index, or PMI, rose to 49.8 in September from 48.8 in August. However, any reading below 50 indicates contraction.

Both new orders and output continued to decline in September amid weaker demand conditions. The pace of decline in total new orders eased since August, but new export orders fell at a marked rate and one that was the sharpest since May 2022.

The survey revealed that firms saw a reduction in staffing numbers and input buying, as production requirements decreased and companies depleted stocks to fulfil new orders.

On the price front, input price inflation remained marked in September due to higher supplier costs and unfavourable exchange rate movements. Nonetheless, the rate of both input and output price inflation moderated.