In russia, the PMI index, which reflects the business activity of manufacturing industries, declined from 50.2 to 47.5 points in June. Not only did it fall into a recession, but it also showed a sharp decline since March 2022. Business activity has been slowing down in three of the last four months. The PMI already dropped below 50 points in April, and new orders continued to decrease in June, so the decline has already been called “sustainable” and the fastest since March, particularly in exports – since March 2022.
