MOSCOW, September 1. /TASS/. Russia’s Manufacturing Purchasing Managers’ Index (PMI) rose to 52.7 points in August 2023 from 52.1 points in the previous month, the S&P Global analytical agency reported.

"New order growth quickened to a three-month high as firms reported improving market demand," 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.

Total new business was supported by a solid expansion in new export orders, analysts said, adding that the rate of growth was the steepest since March 2008. Some firms reported having secured new business from customers in neighboring countries.

That said, inflationary pressures intensified again due to currency weakness, pushing rates of input cost and output price inflation to the strongest in 17 and 16 months respectively, the agency noted.