The reduction of jobs in industry has accelerated to the maximum for the year

Photo: Kirill Kuhmar / TASS

Business expectations in the field of manufacturing came at the worst more than a year, the level of the background maximum eight months reducing the growth in production volumes

In the Russian industry has accelerated the pace of reduction in employment, the intensification of reduction of workplaces was observed in all three main groups of producers, it is underlined in the report by Markit. According to experts of the company in April 2017, the rate of job shedding in the manufacturing sector was the highest since March 2016.

In a report, Markit highlighted the drop in the level of optimism of the Industrialists to the minimum in more than a year level, and the highest in the last eight months the reduction of growth of output and new orders

“Business expectations regarding the growth of production volumes in the next 12 months declined significantly to the lowest since January of 2016. The index of business expectations indicated the maximum decrease in 28 months. The degree of optimism in April were also below their historical average level”, — stated in the message Markit.

The deterioration of basic indicators led to the decline of the PMI index, reflecting overall business conditions in the field of manufacturing. By the end of April, its value has dropped to 50.8 points (from 52.4 points in March), which is one of the two worst indicators for the last nine months. Nevertheless, the index remained above the critical mark of 50 points, which shows a slight overall improvement in market conditions.

“After the steady expansion during the first quarter of April data studies indicate a loss of momentum of growth in the Russian manufacturing sector,” — said economist at Markit sian Jones.

In a report, Markit noted that the prices of raw materials for Russian factories in April 2017, growing at the fastest rate since November of 2016.

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