Russian Federation Manufacturing PMI

Last Release

Feb 29, 2024

Actual

54.7

Units In

Points

52.4

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
54.7 Jan 2017	31.3 Apr 2020	50.29 Points	2011-2024	Markit Economics

The IHS Markit Russia Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 300 manufacturing companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Latest Updates

The S&P Global Russia Manufacturing PMI increased to 54.7 in February 2024 from January’s six-month low of 52.4. The reading pointed to the fastest expansion in the sector since January 2017, supported by faster rises in new orders, a renewed increase in employment, and a further uptick in input buying. Output expanded the most since March 2019, while employment returned to growth, with the pace of job creation solid overall. Meanwhile, backlogs of work contracted at a strong rate, with the pace of contraction being faster than the series average. Meanwhile, vendor performance deteriorated further amid logistics issues and some material shortages. On prices, input cost inflation accelerated due to higher transportation, supplier, and raw material costs. Meantime, output cost inflation eased to an eight-month low amid efforts to spur new sales. Lastly, sentiment improved to a seven-month high amid plans to invest and hopes of further expansions in new orders.