In April 2024, Russia's Manufacturing Purchasing Managers' Index (PMI) dipped to 54.3, indicating a minor slowdown in the country's manufacturing sector compared to the previous month's reading of 55.7 in March 2024. The latest data update on 2nd May 2024 revealed this decrease, pointing towards a slightly lower level of business activity in Russian manufacturing during the said period.
The PMI is a key indicator of economic health for the manufacturing sector, with a reading above 50 indicating expansion and below 50 signaling contraction. Although the current PMI figure of 54.3 still points to growth, the slight decline from the March reading suggests a modest easing in the pace of expansion for Russian manufacturing in April.
Economists and policymakers will be closely monitoring future PMI releases to gauge the trajectory of Russia's manufacturing sector and its broader economic performance, especially amidst evolving global economic conditions and geopolitical dynamics.
