Russia’s manufacturing activity deteriorated for the second straight month in January, though marginally, survey figures from Markit Economics showed Monday.
The seasonally adjusted Purchasing Managers’ Index, or PMI, rose to 49.8 in January from 48.7 in December. However, any reading below 50 indicates contraction in the sector.
Both production volumes and new orders returned to growth territory in January. At the same time, new export orders decreased further.
Despite increasing volumes of new work, outstanding business levels decreased at Russian goods producers in January.
Manufacturers reduced their staffing levels again in January. The rate of job shedding accelerated to a four-month high and was solid overall.
On the price front, input prices grew at the fastest pace in four months in January. This forced firms to raise their selling prices.
The material has been provided by InstaForex Company – www.instaforex.com