Russia Manufacturing PMI came in at disappointing 47.6 in May 2015, compared to 48.9 in April. This reverses slight improvement in April compared to March and puts PMI at the level matching the lowest reading since June 2009, achieved back in January 2015.
Weak conditions signal reversal of the slightly improving trends in the economy over 1Q 2015 (see following post on this). We are now in 6th consecutive month of sub-50 PMI readings for the sector, and 24 months average PMI for Russian Manufacturing stands at 49.4.
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