Russia’s manufacturing sector expanded for the first time in eleven months in October, though slightly, survey figures from Markit Economics showed Monday.
The seasonally adjusted Purchasing Managers’ Index, or PMI, rose to 50.2 in October from 49.1 in September. A reading above 50 indicates expansion, while any reading below 50 suggests contraction in the sector.
New orders rose for the second successive month in October. Moreover, the rate of expansion was the sharpest since November last year. Meanwhile, new export orders decreased.
Manufacturing output expanded at the fastest pace in eleven months in October, driven by higher new order inflows.
Employment level in the sector dropped in October, but the rate of decline was the weakest for seven months.
On the price front, input prices climbed sharply in October. This forced firms to raise their selling prices. Nonetheless, rates of inflation eased in both sides.
The material has been provided by InstaForex Company – www.instaforex.com