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The manufacturing sector in Russia hit a 4-month high during the period of October, as businesses recorded marked increases in production, new orders and outstanding business.
The seasonally adjusted Markit Russia Manufacturing Purchasing Managers’ Index (PMI ), a composite single-figure snapshot of the performance of the manufacturing economy, rose to a four-year high of 52.4 in October. Up from 51.1 in September, the latest figure was indicative of a solid upturn in Russia’s goods-producing sector.
Inflationary pressures continued in Russia’s manufacturing sector in October, as firms reported a rise in both average cost burdens and selling prices. Although input costs rose at a faster pace, output charge inflation eased from September and was comparatively subdued.
Meanwhile, buying activity at Russian manufacturing companies rose at the sharpest pace in just under four years. However, levels of input stock declined further.
"The latest figure was indicative of a solid improvement in operating conditions and a clear sign that the sector may finally be making a sustainable recovery," said Samuel Agass, Economist, IHS, Markit.
