Russia Factory Activity Growth Accelerates On Production, Orders
Russia’s manufacturing activity grew at the fastest pace in three-and-a-half years in September, supported by increases in production and new orders, survey data from S&P Global showed on Monday.
The factory Purchasing Managers’ Index posted 52.0 in September, up from 51.7 in August. A score above 50.0 suggests expansion.
Manufacturers said increased output was due to greater client demand and higher new order inflows, in turn often led by import substitution. The increase was the joint-fastest since February 2021.
New orders increased strongly in September and the pace of expansion was the second-quickest since April 2019.
Input costs increased at slower pace in September, reflecting reductions in some material and energy prices. Companies passed on lower costs to clients, where input prices had decreased. However, the decline in selling prices was only marginal.
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.
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