(Reuters) -Activity across Russia’s manufacturing sector declined for the third month running in August, a business survey showed on Monday, driven by falls in output and new orders for both domestic and export markets.<\/p>\n
The S&P Global Purchasing Managers’ Index (PMI) for Russia’s manufacturing sector rose to 48.7 last month from 47.0 in July, but remained below the 50 mark separating contraction from expansion.<\/p>\n
Manufacturers cited weak demand and financial difficulties among clients as key factors for the continued contraction in output and new orders, the survey showed.<\/p>\n
Russia’s significant spending on military equipment and weapons since invading Ukraine in February 2022 has buoyed a manufacturing sector that otherwise may have suffered as some countries shunned Moscow.<\/p>\n
But this year, the sector has run out of steam as Russia’s economy slows. New export orders contracted for the fifth time in the last six months in August.<\/p>\n
“Companies highlighted that muted demand from clients in existing markets dampened the inflow of new export sales,” S&P Global said.<\/p>\n
Despite the ongoing challenges, employment in the sector returned to growth, with firms hiring more full-time employees and extending shift patterns. August saw the fastest pace of job creation since July 2024.<\/p>\n
Manufacturers also reported a renewed optimism about future output, driven by planned investments in advertising and new product launches.<\/p>\n
(Reporting by Alexander Marrow; Editing by Toby Chopra)<\/p>\n","protected":false},"excerpt":{"rendered":"(Reuters) -Activity across Russia’s manufacturing sector declined for the third month running in August, a business survey showed…\n","protected":false},"author":2,"featured_media":110711,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164,79303,78065,2016,79302],"class_list":{"0":"post-110710","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-economy","12":"tag-financial-difficulties","13":"tag-manufacturing-sector","14":"tag-russia","15":"tag-sp-global-purchasing-managers"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/110710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=110710"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/110710\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/110711"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=110710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=110710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=110710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}