By Aysu Bicer
ANKARA (AA) – Russian manufacturing activity posted its strongest growth since March 2019 last month, driven by increases in production, new orders and client demand.
Russia’s manufacturing purchasing managers’ index (PMI) climbed to 52.0 in September from 51.7 in August, marking “a modest improvement in operating conditions,” according to latest S&P Global data released on Monday.
“Firms also expanded their workforce numbers, as backlogs of work declined markedly. Business confidence strengthened amid greater new order inflows, with the level of positive sentiment reaching its highest since March 2019,” read a statement.
“Meanwhile, the rate of input cost inflation remained subdued, despite quickening slightly,” it added.