Russia’s Manufacturing PMI rises to 51.5 in November

MOSCOW, Dec 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers' index (PMI) increased to 51.5 in November from 51.1 in October, research organization Markit said in a statement on Friday.

Output levels grew strongly, new orders expanded at the most solid rate since July but outstanding business declined. Jobs decreased for the first time since August. The cost burden rose.

“November survey data signaled a modest upturn in the manufacturing sector and a further improvement in operating conditions. However, IHS Markit currently forecasts industrial production to rise by 1.7% in 2017, a figure which has been revised down following muted growth across several industries,” Markit Economist Sian Jones said.

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