MOSCOW, August 1. /TASS/. Russia’s Manufacturing Purchasing Managers’ Index (PMI) fell to 53.6 points in July 2024 from 54.9 points in the previous month to signal a solid but softer upturn in the health of the manufacturing sector, the S&P Global analytical agency said in a report.

"Although stronger than the series average, the rate of growth was the slowest in six months," according to the report.

Russian manufacturers signaled a sustained rise in new order inflows during July, thereby extending the current sequence of growth seen since June 2022. The upturn reportedly stemmed from an ongoing improvement in demand conditions and new client wins. That said, the pace of increase slowed to the weakest in a year, according to the agency.

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