According to the study, higher raw material and transportation costs led to a faster rise in input prices
MOSCOW, May 2. /TASS/. Global Russia Manufacturing PMI (business activity index for the Russian manufacturing industries) fell to 54.3 points in April from 55.7 points in March, according to a study by S&P Global.
“Output growth remained sharp in April, as manufacturers noted that greater new order inflows supported the upturn. Moreover, the rate of increase in production was the second fastest since January 2017, albeit slowing from March’s recent high,” the study says.
According to S&P Global, higher raw material and transportation costs led to a faster rise in input prices. In turn, firms hiked their output charges at a quicker pace, the agency says.
“Increased new orders spurred hiring and greater input buying, as firms recorded the fastest rise in backlogs since July 2017,” the study says.
The PMI value above 50 points is indicative of the business activity growth and the value below that level flags its slowdown.
Source: Tass
