The S&P Global Russia Manufacturing Purchasing Managers’ Index (PMI) fell to 52.4 points in January 2024 from 54.6 points in the previous month, S&P Global analytical agency reported. (chart) ‘Despite stronger business confidence, firms left employment broadly unchanged on the month in response to falling backlogs of work,’ the report said. Any PMI value above 50 points indicates growth. The January result was the weakest upturn in the manufacturing sector since July 2023, although it remains well ahead of the rest of Europe which are all seeing contractions. Stronger than the series average, …