Russian manufacturing activity expanded in May after three months of contraction and price pressures eased notably, but sanctions continued to dent client demand, a survey showed on Wednesday.
The S&P Global Purchasing Managers’ Index (PMI) rose to 50.8 from 48.2 in the previous month, climbing above the 50.0 mark that separates expansion from contraction for the first time since January.
Russia’s manufacturing industry remains under heavy pressure from sanctions imposed by the West over what Moscow calls a “special military operation” in Ukraine that started on Feb. 24.
“Slower declines in output, new orders, employment, and stocks of purchases all helped to boost the seasonally adjusted PMI,” S&P Global, which compiles the index, said….