Russia Manufacturing Growth Remains Strong

(RTTNews) - The Russian manufacturing activity maintained strong growth momentum in November, boosted by stronger domestic demand conditions, survey results from S&P Global showed on Friday.

The Manufacturing Purchasing Managers' Index, or PMI, unchanged at 53.8 in November. However, a reading above 50 indicates expansion in the sector.

New orders continued to increase sharply in November, despite slightly slower than in October.

Overall demand conditions remained buoyant in November, while export orders decreased or the first time in four months, though marginally.

Firms raised their production further in November, and the rate of expansion was solid.

Higher workloads forced to manufactures to expand their workforce numbers in November. Employment increased solidly, and at a slightly faster pace than in October.

On the price front, input price inflation eased for the second straight month amid some signs of stabilization in the ruble against the US dollar. Output price inflation slowed sharply from the previous month.