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Financial News: Russia Manufacturing Sector Recovers In October

Russia Manufacturing Sector Recovers In October

11/01/2021 - 09:55:00 (RTTNews)

(RTTNews) - Russia's manufacturing activity expanded in October, survey data from IHS Markit showed on Monday.

The IHS Markit Russia Manufacturing Purchasing Managers' Index, or PMI, rose to 51.6 in October from 49.8 in September. A PMI reading above 50 signals expansion in the sector.

Output rose marginally in October and new order inflow accelerated. New export orders declined, while total sales increased.

Employment expanded for the first time in five months in October and backlogs of work declined.

Suppliers' delivery time lengthened in October.

Input prices increased in October and the rate of charged inflation quickened since the previous month.

Output expectation for the coming 12 months remained positive amid hopes of greater client demand and new product development.

"Russian manufacturers signaled a return to expansionary territory in October, as operating conditions improved for the first time since May," Sian Jones, senior economist at IHS Markit, said.

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