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Financial News: Russia Manufacturing Growth Slows In November

Russia Manufacturing Growth Slows In November

12/28/2018 - 06:38:00 (RTTNews)

(RTTNews) - Russia's manufacturing sector expanded at a slower rate in November, but the pace of growth remained robust, survey data from IHS Markit showed Friday.

The Purchasing Managers' Index, or PMI, fell to 51.7 from 52.6 in November. Any reading above 50 suggests growth in the sector.

The latest headline figure was the third-highest in 2018 and brought to a close the strongest quarterly expansion since the third quarter of 2017, IHS Markit said.

Both the output and new orders growth remained solid in December. Consequently, both employment and backlogs declined further amid reduced pressure on capacity.

On the price front, input price inflation dipped to a nine-month low. Panelists attributed the rise in costs to higher raw material prices and greater transportation costs.

Output price inflation was the slowest since March due to a softer rise in input prices and greater competition.

Business optimism in December was the second-highest since May 2013, led by a sustained rise in new business and access to new markets.

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