Markit: Russia’s manufacturing PMI falls to 50.1 in November

MOSCOW, Dec 1 (PRIME) -- Russia’s purchasing managers’ index (PMI) in the manufacturing sector decreased to 50.1 points in November from 50.2 points in October, according to a Markit research note published Tuesday.

“Russian manufacturers registered little change in overall operating conditions in November. Production and incoming new orders rose at the quickest pace in one year, although rates of growth were modest overall. However, a contraction in workforce numbers and a sharp drop in stocks of purchases offset the improvements seen in the aforementioned areas,” the research said.

November data showed a modest increase in production of Russian manufacturers, which, however, was the sharpest since November 2014. Incoming new orders rose further in November, with the rate of growth also quickening to a one-year high.

Employment levels have contracted in each of the past 29 survey periods.

Input buying has fallen in each of the past 11 months, with the latest decline reflecting a shortage of raw materials and semi-finished goods.

“Operating conditions at Russian manufacturers remained broadly unchanged during November. This was highlighted by the headline PMI again staying close to the 50.0 no-change mark, signaling stabilization in the sector,” Samuel Agass, economist at Markit, said.

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