MOSCOW, July 1. /TASS/. Russia’s Manufacturing Purchasing Managers’ Index (PMI) rose to 54.9 points in June 2024 from 54.4 points in the previous month, the S&P Global analytical agency reported.

The latest data signaled a strong upturn in the health of the Russian manufacturing sector, the agency said.

"Russian goods producers continued to register a sharp expansion in new orders midway through the year, with the pace of growth quickening. Panelists often stated that greater new sales were linked to sustained demand conditions and new client wins," the report said.

Moreover, the pace of increase in output was among the fastest in seven-and-a-half years, S&P Global said, adding that foreign customer demand improved in June, as new export orders returned to growth for the first time in three months.

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