Federação Russa PMI Industrial

The S&P Global Russia Manufacturing PMI declined to 52.1 in August 2024 from 53.6 in July. It marked the 27th straight month of expansion in factory activity, but the softest pace since July 2023 as output grew the least in a year while new orders expanded the least since October 2022. However, foreign sales rose at the fastest pace in a year, after a marginal contraction in the prior month. Employment increased softer while backlogs of work returned to growth. In the meantime, delivery times lengthened amid logistics issues and transportation congestion. On the cost side, input price inflation eased to the slowest since February 2023 and below the series average. amid moderated raw material prices and currency weakness. Output cost inflation slowed for the second straight month but the pace of increase remained historically elevated as firms sought to pass higher costs through. Finally, business sentiment weakened.