The IHS Markit Russia Manufacturing PMI declined to 48.4 in July 2020 from 49.4 in the previous month. The latest figure indicated a faster decline in the manufacturing sector and signaling a step backwards for goods producers, as demand conditions faltered. Output expanded marginally for second month running, as factories reopened, the rate of growth was the second-fastest since April 2019. New export orders continued to contract in July, albeit at the slowest pace since May 2019. Meanwhile, employment continued to decline amid historically weak demand. On the price front, rates of input cost accelerated to the second-fastest since March 2019, as shortages of raw materials and unfavourable exchange rate, while output charge inflation accelerated only a marginally. Finally, sentiment picked up to a six-month high amid reports of investment in product development and hopes of a return to pre-pandemic output levels over the long term.
Manufacturing PMI in Russia averaged 49.95 points from 2011 until 2020, reaching an all time high of 54.70 points in January of 2017 and a record low of 31.30 points in April of 2020. This page provides the latest reported value for - Russia Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Russia Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Markit Economics
Manufacturing PMI in Russia is expected to be 43.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Russia to stand at 49.20 in 12 months time. In the long-term, the Russia Manufacturing PMI is projected to trend around 50.50 points in 2021 and 52.00 points in 2022, according to our econometric models.