Russia’s Manufacturing PMI rises to 70-month high in January

MOSCOW, Feb 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers' Index (PMI) hit a 70-month high of 54.7 points in January, as compared with 53.7 points in December, finance information company Markit said in a statement report on Wednesday.

“Russia’s manufacturing sector shifted into a higher gear at the beginning of 2017. A sharp increase in new orders was reflected in goods producers raising their output to the greatest extent for almost six years,” the statement read. “The figure pointed to a strong improvement in the health of Russia’s manufacturing sector and extended the current sequence of growth to six months.

“Stronger demand for Russian manufactured goods was reflected in the sharpest uptick in new work for almost six years. The rate of growth outstripped the historical average… Faced with higher new orders, goods producers operating in Russia registered a further build-up of backlogs of work… Greater workloads encouraged manufacturers to add to their workforce numbers for a second successive month and at the fastest rate since March 2011,” the company said.

For further details, see the company’s report on the official Web site:

https://www.markiteconomics.com/Survey/PressRelease.mvc/c569bc6c8bcf4d48b41087b7ac2b042c

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