Russia: Manufacturing PMI ticks up in November
The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 51.7 in November, up from October’s 51.6. November’s result marked the best performance since May. As a result, the index moved slightly further above the 50-threshold, signaling a faster improvement in business conditions compared to the previous month.
Commenting on the inflationary backdrop, Siân Jones, a senior economist at IHS Markit, said:
“Russian manufacturers continued to register growth across the sector in November, as firms recorded expansions in output and new orders for the third month running. Although the upturns were historically subdued, they were the fastest for six months.”