Russian factory activity expands in April as export orders pick up

MOSCOW – Activity in Russia’s manufacturing sector grew for the 12th month running in April, and new export orders ended a 14-month sequence of decline, while inflationary pressures regained momentum, a business survey showed on Tuesday.

The S&P Global Purchasing Managers’ Index (PMI) for Russian manufacturing dropped in April to 52.6 from 53.2 in March, the pace of growth easing for the second month running but remaining above the 50 mark that separates expansion from contraction.

Until now, domestic demand has been the key driver of the sector’s growth, as new export orders have contracted stubbornly as Moscow prosecutes what it calls its “special military operation” in Ukrai…

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