Financial News: Russian Factory Activity Logs Marginal Expansion

Russian Factory Activity Logs Marginal Expansion

12/27/2024 - 03:32:00 (RTTNews)

(RTTNews) - Russia's manufacturing sector activity expanded for the third straight month in December, though the pace of growth eased amid softer rises in output and new orders, survey results from S&P Global showed on Friday.

The manufacturing purchasing managers' index, or PMI, dropped to 50.8 in December from 51.3 in November. Nonetheless, a reading above 50 indicates expansion.

The overall upturn was supported by further expansions in output and new orders, albeit the rate of growth eased in both cases. Sales from abroad rose for the fifth straight month on the back of greater business with neighboring countries.

The slower expansion in output was due to softer overall demand conditions and shortages of some materials.

Subsequently, firms cut workforce numbers further, and confidence in the outlook for output in the coming year was dented, the survey said.

On the price front, cost pressures remained elevated in December, led by higher raw material prices and unfavorable exchange rate movements. Output price inflation also remained high despite easing to a 3-month low.

Due to supply chain issues and the possibility of increased material and transportation costs, businesses increased their input purchases as stock levels continued to decline.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Deteriorates More Than Previously Estimated In January (12 hr(s), 0 min(s),38 sec(s) ago)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story»

Eurozone Private Sector Grows In January (12 hr(s), 25 min(s), 38 sec(s) ago)
(RTTNews) - Euro area private sector returned to growth in January as the contraction in manufactu ...Full Story»

U.S. Existing Home Sales Jump Much More Than Expected In December (12 hr(s), 35 min(s), 38 sec(s) ago)
(RTTNews) - A report released by the National Association of Realtors on Friday showed existing ho ...Full Story»

Slovenia Consumer Confidence Weakens Slightly (13 hr(s), 46 min(s), 38 sec(s) ago)
(RTTNews) - Slovenian consumers remained slightly more pessimistic at the start of the year, figur ...Full Story»

Hungary Jobless Rate Falls To 4.4% (14 hr(s), 16 min(s), 38 sec(s) ago)
(RTTNews) - Hungary's unemployment rate increased during the October-December period, data fro ...Full Story»

Taiwan Q4 GDP Growth Eases To 1.84% (14 hr(s), 45 min(s), 38 sec(s) ago)
(RTTNews) - Taiwan's economy continued to expand in the final quarter of 2024, though at the ...Full Story»

UK Private Sector Logs Further Marginal Expansion (15 hr(s), 12 min(s), 38 sec(s) ago)
(RTTNews) - The UK private sector activity expanded at the fastest pace in three months in January ...Full Story»

Spain Producer Prices Rise 2.3% In December (16 hr(s), 20 min(s), 38 sec(s) ago)
(RTTNews) - Spain's producer prices increased for the second straight month in December amid a ...Full Story»