Russian Manufacturing PMI Falls to 48.6 in February

The business environment in the manufacturing sector of the Russian economy worsened in February. It is indicated by the results of research conducted by IHS Markit. PMI fell against the January index value by 3.2 points to 48.6 points. The company’s review notes that last month saw a decline in production. It has happened for the first time since August last year. Representatives of Russian companies reported a drop in sales of products against the backdrop of weakening demand both domestically and abroad. The deterioration of the epidemiological situation due to the spread of omicron also had a negative impact on the activities of manufacturing enterprises. The decline in export orders in February was the largest in a 4-month period. The decline in output led to a fall in employment. It posted the biggest decline since August 2021.

Source: xCritical.com