Russia’s manufacturing activity expanded at the fastest pace in five months in December, driven by accelerated growth in output and new orders, survey data from IHS Markit showed, Business Insider informs.
The Purchasing Managers’ Index climbed to 52.0 in December from 51.5 in the previous month. That was in line with economists’ expectations. Any reading above 50 indicates expansion in the sector, Business Insider adds.
Output rose at the sharpest pace in four months in December, as greater demand from new and existing clients supported a solid increase in new orders received by Russian goods producers.
New business growth quickened to a 5-month high, while export sales contracted for the first in four months, though marginally. At the same time, employment levels were broadly unchanged in December.
On the price front, input price inflation eased to a four-month low despite vendor performance deteriorating to the greatest extent since July 2016. Output prices also increased at a softer pace during the month.
Output expectations were robust in December, with manufacturers reporting the strongest degree of optimism since September, Business Insider adds.