MOSCOW, March 1. /TASS/. Russia’s Manufacturing PMI Index rose to 54.7 points in February 2024 from 52.4 points in the previous month, S&P Global analytical agency reported on Friday.
"The latest data signaled a strong improvement in the health of the goods-producing sector, and one that was the joint-strongest for almost 13 years, equal with that seen in January 2017," the statement says.
Also, according to S&P Global, the upturn in new orders notably gained pace in February, as the expansion quickened to the fastest since March 2011.
"Greater new sales were often linked to stronger client demand, the introduction of new product ranges and successful sales initiatives. That said, growth in total sales was weighed down by a fourth successive monthly decline in new export orders. The fall in external sales was solid and the steepest in almost a year," the statement says.
The PMI value above 50 points is indicative of the business activity growth and the value below that level flags its slowdown.