The Business Activity Index (PMI) for manufacturing industries in Russia reached 52.6 points in April, compared to 53.2 points in March, but Russian export orders rose last month for the first time in 15 months.
According to Standard & Poor’s Global, an increase in export orders was observed for the first time in 15 months, despite the decline in industrial production.
“April saw the sector’s weakest growth since January 2023, due in part to a small number of new orders. At the same time, employment increased at the fastest pace since June 2006 and productivity is closer to stabilizing amid reports of improved logistics,” the agency said in a statement.
The agency indicated that the value of the index above 50 points indicates an increase in business activity, and when it is below this level, this means a slowdown.
This article was originally published by RT.