Financial News: Russian Manufacturing Activity Signals Solid Expansion

Russian Manufacturing Activity Signals Solid Expansion

05/02/2024 - 05:59:00 (RTTNews)

(RTTNews) - Russia's manufacturing activity continued to expand strongly in April amid robust growth in output and new orders, the purchasing managers' survey data from S&P Global showed on Thursday.

The S&P Global Russia Manufacturing Purchasing Managers' Index, or PMI, dropped to 54.3 in April from 55.7 in March. However, a reading above 50 indicates expansion in the sector.

The latest growth was stronger than the series average despite softening to the slowest in three months, the survey said.

Production increased at the second-fastest rate since January 2017, albeit at a slower pace than it was in March.

New orders grew sharply in April, which was evident in the domestic market as export orders fell amid challenging external demand conditions.

In line with rising new orders, firms raised their workforce numbers in April, though the rate of job creation has eased since March.

On the price front, cost pressures remained sharp in April due to further supplier delivery delays and logistics challenges. The pace of output price inflation was nonetheless the second-slowest since last June.

Looking ahead, Russian manufacturers remained upbeat about output expectations in April, albeit the weakest in three months. Firms' positive outlook was underpinned by the development of new product ranges and hopes of stronger customer demand.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

China Data On Tap For Friday (04 hr(s), 16 min(s), 36 sec(s) ago)
(RTTNews) - China is scheduled to release a batch of data on Friday, headlining a busy day for Asi ...Full Story»

Treasury Reveals Details Of This Month's Twenty-Year Bond Auction (08 hr(s), 43 min(s), 36 sec(s) ago)
(RTTNews) - The Treasury Department announced the details of this month's auction of twenty-ye ...Full Story»

U.S. Industrial Production Unexpectedly Unchanged In April (11 hr(s), 33 min(s), 36 sec(s) ago)
(RTTNews) - With a surge in utilities output offset by decreases in mining and manufacturing outpu ...Full Story»

Philly Fed Index Indicates Notably Slower Growth In May (11 hr(s), 53 min(s), 36 sec(s) ago)
(RTTNews) - Philadelphia-area manufacturing activity saw a notable slowdown in the pace of growth ...Full Story»

U.S. Import Prices Jump 0.9% In April, Much More Than Expected (12 hr(s), 13 min(s), 36 sec(s) ago)
(RTTNews) - The Labor Department released a report on Thursday showing U.S. import prices jumped b ...Full Story»

U.S. Weekly Jobless Claims Pull Back From More Than Eight-Month High (12 hr(s), 25 min(s), 36 sec(s) ago)
(RTTNews) - After reporting a notable increase in first-time claims for U.S. unemployment benefits ...Full Story»

U.S. Housing Starts Rebound In April But Building Permits Extend Slump (12 hr(s), 37 min(s), 36 sec(s) ago)
(RTTNews) - New residential construction in the U.S. rebounded in the month of April, according to ...Full Story»

U.S. Industrial Production Comes In Flat In April (12 hr(s), 59 min(s), 36 sec(s) ago)
(RTTNews) - With a surge in utilities output offset by decrease in mining and manufacturing output ...Full Story»