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Investing.com -- The manufacturing sector in Russia experienced a slight growth in February, as overall demand remained static, according to a business survey released on Monday.
The S&P Global Purchasing Managers’ Index (PMI) for Russian manufacturing dropped to 50.2 in February, down from 53.1 in January. This figure just surpasses the 50 threshold that draws a line between expansion and contraction in the sector.
The decelerated upswing was linked to a less robust increase in output and almost unchanged inflows of new orders. Despite a refreshed surge in new export sales, overall demand conditions remained at a standstill.
S&P Global highlighted a contrasting trend between total new orders and new export sales. Russian manufacturers reported a revived increase in new export sales halfway through the first quarter.
The rise in new export orders was attributed to increased demand from neighboring countries, as per anecdotal evidence provided.
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