In March, the Russian manufacturing sector showed a record growth in business activity in the last 17 years. writes about this Interfax.
S&P Global’s sector PMI rose to 55.7 from 54.7 in February, marking the biggest improvement in conditions since August 2006.
Leading dynamics were recorded in all key indicators. New orders increased at the fastest pace since January 2008, driven by strong demand, successful marketing and an influx of new customers. Industrial production increased at the fastest rate since the beginning of 2017.
Also in March, the increase in new export orders resumed, albeit insignificantly, for the first time in the last 4 months. This was the fastest expansion since August 2023.
In response to increasing production needs, companies actively increased their hiring; This reached the highest rate in the last 23 years. At the same time, the capacity reduction led to an increase in the volume of unfinished orders for the first time in 5 months.
Price pressure decreased in March. The rate of cost growth slowed to its second minimum in a year. Although companies continue to pass on cost increases to customers, sales prices also saw their most gradual increase since June 2023.
Business optimism in the sector has risen to a 5-year high amid plans to invest in new production lines and equipment.
Before that China’s PMI index continued We recorded growth for the fifth month in a row.
Previously Russia passed Based on GDP growth rate of most G7 countries.
What are you thinking?
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.