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Financial News: Russia's Factory Growth Improves In November

Russia's Factory Growth Improves In November

12/01/2017 - 01:37:00 (RTTNews)

(RTTNews) - Russia's manufacturing activity expanded at a faster pace in November, survey data from IHS Markit showed Friday.

The Purchasing Managers' Index rose to 51.5 in November from 51.1 in October. A score above 50 indicates expansion. Nonetheless, the reading was below the expected level of 51.8.

Overall growth in goods production reflected a solid expansion in new orders, which rose at the strongest rate since July.

On the price front, output charge inflation accelerated to the third-fastest rate in 2017 so far. Cost burdens also increased, and the pace of inflation was steep overall.

IHS Markit currently forecasts industrial production to rise by 1.7 percent in 2017, a figure which has been revised down following muted growth across several industries, Sian Jones, an economist at IHS Markit, said.

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