2024-10-02 16:08:41
Business activity in Russia’s industrial sector contracted for the first time in 29 months in September amid renewed declines in output, new orders and employment, the latest S&P Global survey showed. quoted by DPA.
The final Purchasing Managers’ Index (PMI), which measures the activity of industrial producers in the country, fell to 49.5 points in September from 52.1 in August. The result is below the limit of 50 points separating growth from contraction of activity, reports BTA.
Production fell at a steady pace in September amid weak demand and supply delays. Weak customer demand led to a drop in new orders for the first time in 28 months, the data showed.
However, new export orders rose at their fastest pace in more than a year on strong demand from the Central Asia region.
Supply chain issues, including delays in rail transport and international logistics, led to a sharp deterioration in supplier performance, the study found.
Commodity price inflation was marked in September by raw material shortages and higher transport charges. As a result, producer prices rose at the fastest pace since October 2023. Manufacturing employment also fell, after the pace of job cuts was the sharpest in nearly a year.
Confidence in the outlook for the year ahead fell to a 19-month low, the data also showed.