Page 45 - RusRPTJul21

4.3 Industrial sectors and trade 4.3.1 Producers PMI
Russia’s strong economic recover from last year’s crisis spluttered in June after soaring producer prices cause the manufacturing PMI to shrink for the first time this year.
The headline seasonally adjusted IHS Markit Russia Manufacturing PMI posted 49.2 in June, down from 51.9 in May and below the no-change 50 market, which signals a contraction.
The latest figure brings an end to a five-month sequence of improvement in the health of the manufacturing sector, as growth is hit by fears of a fresh wave of the coronavirus (COVID-19) pandemic, Markit said in a press release
“Although only marginal, the downturn was driven by weak client demand and the first fall in employment so far this year. Nonetheless, manufacturers remained upbeat regarding their output expectations, with the degree of confidence improving,” Markit said.
Manufacturing as also been hurt by ongoing supply-chain disruptions which led to material stock depletion and further hikes in input costs.
45 RUSSIA Country Report July 2021 www.intellinews.com