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The PMI of Manufacturing Companies Dropped Down
15.10.2019 00:15
The PMI of Manufacturing Companies Dropped Down

In September of this year, the PMI of manufacturing companies dropped to 46.3 points, which has become the lowest indicator since May 2009. In August, the figure was 49.1 points: all in all, business activity of the industry has been decreasing for five months.

      Let us recall that an index value smaller than 50 indicates a decline in business activity. According to the poll by IHS Markit, the main reasons for this dynamics are a decrease in the number of new customers, a decrease in demand and a reduction in the number of export orders. “A poor PMI is a very bad sign. The report shows that the main reason is weak final demand”, according to Maksim Oreshkin, the Head of the Ministry of Economic Development.

Author: Anna Dorozhkina

Tags: Russian business Russian economy    

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