Markit: Russia’s Manufacturing PMI rises to 47.9 in January

MOSCOW, Feb 3 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) increased to 47.9 in January from 47.5 in December, researcher IHS Markit said on Monday.

“The Russian manufacturing sector continued to signal a deterioration in operating conditions in January, largely driven by further contractions in production and new orders. The sustained fall in client demand also led to another round of job cuts,” the agency said.

“That said, rates of decline in output, new business and employment all eased to the slowest in five months. As a result, business confidence increased to a robust level.”

New business continued to decline at a solid rate in January. The drop in new order volumes was commonly attributed to lower domestic and foreign client demand. New export sales decreased for the ninth month running and at a solid rate, but the rate of contraction softened further from October's recent low, Markit also said.

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