Skip to content
Subscriber Only
Business
Economics

Russian Stimulus Need Builds on Surprise Manufacturing Decline

Russian manufacturing unexpectedly shrank in July, putting pressure on policy makers to stimulate growth to reduce the risk of the world’s biggest energy exporter’s economy sliding into recession.

The HSBC Russia Manufacturing Purchasing Managers’ Index fell to 49.2 from a four-month high of 51.7 in June, the first contraction in almost two years, HSBC Holdings Plc. said, citing data compiled by London-based Markit Economics. That compared with the 50.9 median estimate of three economists in a Bloomberg survey.