MOSCOW, July 3. /TASS/. Russia’s Manufacturing Purchasing Managers’ Index (PMI) went down to 52.6 points in June 2023 from 53.5 points in the previous month, the S&P Global analytical agency reported on Monday.

"The upturn slowed slightly from May following softer expansions in output and new orders," the report said.

The PMI value above 50 points is indicative of the business activity growth and the value below the said level flags its slowdown.

Although the pace of growth softened from that seen in May, it was broadly in line with the series average and solid overall, analysts said. New orders growth was supported by sustained improvements in domestic demand in June, alongside a renewed increase in new sales to external markets.

Price pressures softened slightly in June, but input costs continued to rise at a marked pace. The rate of job creation slowed from May's 22-and-a-half year high to the softest since last November, but was solid nonetheless. Manufacturing firms meanwhile continued to see a decrease in backlogs of work at the end of the second quarter.