The growth rate of Russian industry showed the maximum in the last 7 years, and the business activity index (PMI) of Russian manufacturing industries increased from 53.8 points to 54.6 points in December 2023 compared to the previous month. This was reported by TASS Citing S&P Global research.
According to a study on the Russian manufacturing PMI index, “The growth rate was at the highest level since January 2017.”
S&P Global believes the growth is driven by an increase in the number of customers, product launches and sales of high-quality products. According to researchers, the domestic market has resulted in a huge increase in customer base.
A PMI index above 50 points means an increase in business activities, while below this indicator it means a slowdown in activities.
Before that, First Deputy Prime Minister of Russia Andrei Belousov named Two ways to combat overheating of the domestic economy are to increase production and restrict demand.
Belousov before named One of the main threats to the Russian economy.