Page 71 - RusRPTJul24

4.2.2 PPI dynamics
4.3 Industrial sectors and trade 4.3.1 Producers PMI
The seasonally adjusted S&P Global Russia Services PMI Business Activity Index slipped into the red in May posting a score of 49.8, down from 50.5 in April, just above the no-change benchmark of 50.
“The decline in activity brought to an end a 15-month sequence of expansion. Lower output levels were often attributed by panellists to more subdued demand conditions and little change in new orders on the month,” S&P Global reported.
The service’s result follows on from very robust growth in the manufacturing PMI, which posted 54.4 in May, well above the 50 no-change mark. Job creation in manufacturing hit a 26-year high as the Kremlin pours money into the military industrial sector.
Taken together, the Composite PMI posted at 51.4 in May, down from 51.9 in
71 RUSSIA Country Report July 2024 www.intellinews.com