Russian manufacturing sector see strong November growth despite export downturn

By Gokhan Ergocun

ISTANBUL (AA) - The Russian manufacturing sector demonstrated robust expansion in November despite a renewed decline in exports, data provider S&P Global revealed on Friday.

"New orders continued to expand sharply in November, despite a dip in exports, supporting further increases in output, employment and purchasing activity," it noted.

Meanwhile, input stocks increased for the first time in a seven-month period, S&P Global said.

While input costs and selling prices saw some increase, the inflation rate eased markedly in the country amid signs of currency stabilization, it added.

The Purchasing Managers’ Index (PMI) was unchanged at 53.8 in November, signaling continued solid improvement in business conditions.

"The health of the sector has now strengthened in each of the past 19 months," it added.