Russia's manufacturing activity deteriorated at the fastest pace in two years in March amid steep fall in output and weaker demand, survey data from S&P Global showed on Friday.
The S&P Global Russia Manufacturing Purchasing Managers' Index, or PMI, fell to 44.1 in March from 48.6 in February. Any reading below 50 signals contraction in the sector.
Total new sales declined in March and the fall in new orders was the fastest in nearly two years.
Foreign client demand fell in March and new export orders declined among the steepest on record.
Inflationary pressures increased in March and input prices rose at the fastest pace on record.
The selling prices accelerated to the fastest pace since the series began in January 2003.
Suppliers' delivery time lengthened in March and led to the worst decline in input buying since May 2020. Backlog of work decreased faster.
Firms' expectations regarding the outlook for the next 12 months remained upbeat in March, though the level of optimism dropped to the lowest in the current twenty-two months sequence.
