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Financial News: Russia Manufacturing Growth At 4-Month Low

Russia Manufacturing Growth At 4-Month Low

11/01/2017 - 02:22:00 (RTTNews)

(RTTNews) - Russia's manufacturing activity expanded at the weakest pace in four months in October, survey figures from IHS Markit showed Wednesday.

The factory Purchasing Managers' Index dropped to 51.1 in October from 51.9 in September. Meanwhile, economists had expected the index to rise slightly to 52.0.

However, any reading above 50 indicates expansion in the sector.

Although the latest index figure signaled the softest expansion in the manufacturing sector since June, it extended the current upturn - now 15 months.

Growth in output eased to a 15-month low in October and new orders rose at the weakest pace since June.

Although workforce numbers grew for the second successive month, the rate of job creation was fractional overall.

On the price front, input price inflation accelerated to the strongest since July 2016. On the other side, the pace of output charge inflation eased to a three-month low.

"Business confidence remained robust in October, with panelists stating that larger client bases and planned investment drove optimism," Sian Jones, Economist at IHS Markit, said.

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