ISTANBUL

Russian manufacturing performance continued to improve last month, though at a softened pace as cost pressures remain high, S&P Global reported on Monday.

Growth in output and new orders both eased in June, said a statement by the US-based data provider, adding that the purchasing managers index (PMI) of the sector was at 53.5 in May and dropped to 52.6 last month.

"The latest data indicated a modest improvement in operating conditions across the Russian manufacturing sector, albeit the joint-weakest since last October," it said.

Input purchasing climbed at the sharpest pace in over 15 years, while input costs rose at the second-sharpest pace since April 2022, it noted.