MOSCOW, Oct 3 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) grew to 52 in September from 51.7 in August, staying above the no-change mark of 50 for a fourth month in a row, research agency S&P Global said in a statement on Monday.
Manufacturing firms signaled a slight improvement in operating conditions, which was supported by growth in production and new orders while client demand picked up. Internal demand once again supports the sector as new export orders plummet once again.
The companies also expanded their workforce, cutting work backlogs noticeably, the agency said.
Business confidence strengthened, and the rate of input cost inflation remained subdued. Some companies reported contraction of input prices for some materials, and they lowered the average output charges in response, S&P Global said.
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