MOSCOW, Dec 1 (PRIME) -- Russia’s Manufacturing Purchasing Managers’ Index (PMI) rose to 53.2 in November from 50.7 in October, climbing higher above the no-change mark of 50, research agency S&P Global said in a statement on Thursday.
Faster growth of output and new orders supported higher growth, but demand continues to be driven only by domestic customers and new export orders plummeted again because of the sanctions. Still, new sales prompted new increases in employment and stock, even though the pressure on capacity reflected in a renewed increase in work backlogs, with the level of outstanding business expanding for the first time since January.
Input purchases grew, but manufacturers registered only a slight uptick in cost burdens, while S&P Global registered reports that some supplier prices fell in the month. Output charges remained flat following a couple of months of declines as some companies passed the higher input prices to customers.
The latest improvement in operating conditions of Russian manufacturers was the quickest since January 2017, and the growth of production levels was the sharpest since March 2019.
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