Bank of Russia sees signs of continuing decline in economic activity
16:58, 5 June
Photo: pixabay.com
The business activity index (PMI) in Russia is still much lower than the neutral level of 50 points, evidencing the continuing decline in economic activity, Central Bank chief Elvira Nabiullina said at an online conference on Friday.
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"PMI indices either in the industry or in services demonstrated notable improvement after the record-breaking drop in April. Nevertheless, it should be noted that indices are still much lower than the neutral mark of 50 points. This highlights the continuing decline in economic activity," she said.
