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Russian manufacturing activity grows at fastest pace since March 2019

Russian manufacturing activity grows at fastest pace since March 2019
Latest data signals 'modest improvement in operating conditions' in September

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.​​​​​​​

source: News Feed
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