Domestic demand drives growth in Russian factory activity in Dec -PMI

MOSCOW – Domestic demand more than made up for falling export sales to drive growth in Russian manufacturing in December, a survey showed on Thursday, leading to the fastest monthly rise in job creation in the sector in over 21 years.

The S&P Global Purchasing Managers’ Index (PMI) eased in December to 53.0 from 53.2 in November, but was still above the 50 mark that separates expansion from contraction. November’s reading was its highest since January 2017.

“Higher production levels were linked to another monthly upturn in new orders and the acquisition of new customers,” S&P Global said. “The rate of output growth softened from November’s recent high but was the second-fas…

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