Russia Manufacturing PMI Shows Slight Improvement In March

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The FINANCIALBusiness activity in Russia's manufacturing sector improved slightly in March as production levels showed some recovery with the arrival of spring, Purchasing Managers' Index data from HSBC showed Monday.

 

Russia's PMI ticked up to 50.8 from 50.7 the previous month, well below the pre-crisis average of 52.7, the data showed.

According to Borsa Italiana – London Stock Exchange Group, leadings above 50 signal an increase in manufacturing from the previous month, while a figure below 50 indicates a contraction.

"Respondents reported that the fastest expansion had taken place in the investment goods sector," said Alexander Morozov, chief economist at HSBC in Moscow. "Two other sectors, consumer goods and intermediary goods, grew modestly."

 

 

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