Russian Manufacturing Downturn Continues In September

(RTTNews) - Russia's factory activity deteriorated for the fourth straight month in September amid a faster fall in new orders, survey results from S&P Global showed on Wednesday.

The manufacturing purchasing managers' index, or PMI, dropped to 48.2 in September from 48.7 in August. Any reading below 50 indicates contraction.

Among components, production levels were impacted by a faster fall in new orders, with reduced output also leading to a drop in employment. New export orders fell at the steepest pace since November 2022 due to subdued demand in key export markets.

The survey revealed that rates of decline in both input buying and stocks of purchases eased on the month.

On the price front, input price inflation accelerated to a 4-month high in September, linked to longer delays to supplier deliveries and unfavorable exchange rate movements. As a result, selling prices rose further, though only marginally.

Looking ahead, manufacturers expressed positive output expectations over the next twelve months, stemming from plans for new product development, more tender opportunities, and hopes of more upbeat demand conditions.