Russian manufacturing shrinks for third straight month in July: PMI

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The index’s headline reading fell to 48.1, its lowest since July 2016, from 49.5 in June. The index remained below the 50.0 mark that separates expansion from contraction as both output and new orders declined in July

“On a positive note, pressure on profit margins eased as input prices rose at the slowest rate since March,” Sian Jones, an economist at IHS Markit

Business confidence remained relatively strong even though it has weakened to a seven-month low, the survey showed.

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