S&P Global: Russia’s Manufacturing PMI falls to 53 in December

MOSCOW, Dec 29 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) decreased to 53 in December from 53.2 in November, remaining above the no-change mark of 50, research agency S&P Global said in a statement on Thursday.

"The expansion in output was historically strong, with the rate of growth easing only slightly from November's 27-month high. Meanwhile, new orders continued to rise, driven by domestic demand, as new export sales fell again. Greater production led to an acceleration in the pace of job creation, with employment rising at the fastest rate in over 21 years," the report read.

The new export order rate decrease remained strong but was the slowest since July, this led to a small overall growth of new sales. At the same time, the increase of work in progress was the strongest since January.

The producer cost pressure eased in the reported period, with the slowest growth rate since September. The output prices rose at the fastest rate since April amid a stronger demand.

The output expectations remained positive with the second highest assessment since March 2019.

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