The IHS Markit Russia Manufacturing Purchasing Managers Index (PMI) rose to 51.5 points in February 2021 from 50.9 points in January 2020, according to IHS Markit analytical agency.
“Russian manufacturing firms continued to signal a promising start to 2021, as operating conditions improved for the second month running. Output and new order growth accelerated despite difficult external demand conditions. Once again, supply chain disruptions were notably apparent, as lead times lengthened to the greatest extent since May 2020. Supplier shortages and hikes in transportation costs pushed up input prices markedly. Firms were able to respond, however, with the fastest uptick in charges for six years. Business confidence regarding the year ahead also strengthened. Our current forecast expects industrial production to rise 4.1% in 2021, as the sector seeks to recover from the downturn seen in 2020,” said the Economist at IHS Markit, Sian Jones.
The PMI value above 50 points is indicative of the business activity growth and the value below the said level flags its slowdown.
