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. Last Updated: 07/27/2016

PMI Up in June

MOSCOW -- The manufacturing economy grew for the 18th month in a row in June, but is straining to meet new orders as input prices rise too, according to purchasing managers' index data released Monday.

London-based Moscow Narodny Bank, which commissions the index intended to give a snapshot of business conditions, said the PMI ticked up to 55.7 from 55.5 in May.

The figure has been above 50, the no-change level, for 18 months, though systemic constraints such as a lack of capital are slowing the economy, the bank said.

Stocks of raw materials fell at the fastest rate this year and stocks of finished goods fell at the fastest rate since last November. Supplier delivery times also lengthened.

The index is based on a survey of 300 domestic manufacturers.