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Russia's manufacturing industries saw a moderate improvement in April 2023, with the business activity index falling slightly to 52.6 points compared with 53.2 points in March, S&P Global said in a press release on May 1. (chart)
Overall growth was driven by an increase in output and new orders, and firms expanded their workforce numbers at a faster pace, allowing them to work through backlogs quickly.
"The seasonally adjusted S&P Global Russia Manufacturing Purchasing Managers’ Index (PMI) posted 52.6 in April, down from 53.2 in March. April data signalled a moderate improvement in operating conditions across the Russian manufacturing sector, albeit the rate of increase waning for a second successive month to reach the slowest since January," the report said.
Vendor performance also reportedly improved, and logistics have become better.
Expansions in production and input buying were reflected in greater stock levels.
An index level above 50 points suggests a rise in business activity, while a value less than 50 points indicates a slowdown.
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