MOSCOW, April 1. /TASS/. Russia’s Manufacturing Purchasing Managers’ Index (PMI) rose to 55.7 points in March 2024 from 54.7 points in the previous month, the S&P Global analytical agency reported.

"Supporting overall growth were steeper expansions in output and new orders, with the latter rising at the fastest pace in over 16 years," the report said.

Contributing to the increase in total new sales was a renewed uptick in new export orders at Russian goods producers. Firms also raised their production levels in March. Output grew at the sharpest pace since January 2017, with companies commonly attributing the upturn to more robust demand conditions, according to S&P Global. Manufacturers secured more full-time staff to build capacity, with the rate of job creation accelerating to the steepest since November 2000, according to the report.

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