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Russian Manufacturing Sector Faces Fastest Contraction Since March 2022

Russia's manufacturing PMI fell to 48.1 in December, marking the seventh month of contraction. Production, new orders, and employment all weakened significantly.

Insights:
Russia's manufacturing sector experienced its steepest contraction since March 2022, with the Purchasing Managers' Index (PMI) dropping to 48.1 in December from 48.3 in November, according to data released by S&P Global on Monday, December 29. This marks the seventh consecutive month of contraction, signaling deepening economic challenges for the country's manufacturing industry.
An employee works on the production of traffic signs at a factory of KrasDorZnak in the Siberian village of Voznesenka, Krasnoyarsk region, Russia, on May 29, 2019. REUTERS/Ilya Naymushin
An employee works on the production of traffic signs at a factory of KrasDorZnak in the Siberian village of Voznesenka, Krasnoyarsk region, Russia, on May 29, 2019. REUTERS/Ilya Naymushin
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