The severe shortage of materials led to a significant increase in lead times, which can be seen in the overall statistics.
In Russia, manufacturing activity in March showed a sharp decline comparable to the first wave of the pandemic. Analysts attribute such a decline to increasing deadlines and severe shortages of materials, Reuters reported on Friday, April 1st.
It was noted that according to the rating agency S&P Global, the business activity index (PMI) of the manufacturing industries of the Russian Federation fell sharply in March to 44.1 points from 48.6 points in February.
The decline in manufacturing activity is the most significant since May 2020, when Russia went through the first phase of the COVID-19 pandemic.
An index value of more than 50 points indicates an increase in business activity, and below this level, its slowdown.
The study did not mention the Russian invasion of Ukraine and the sanctions against the aggressor. The decrease in production activity is explained by a sharp increase in the timing of supply of products and the associated severe shortage of materials.
Recall that after the invasion of Ukraine, many countries in the world imposed the most severe sanctions against Russia, which seriously hit its economy and worsened the forecasts for the future. Thus, the agency Fitch predicts a record collapse in the Russian economy.
Russia’s economy is heading into a deep recession – head of the IMF
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Source: korrespondent
