Russia Manufacturing Downturn Continues In November

(RTTNews) - Russia's factory activity deteriorated for the fourth straight month in September amid a faster fall in new orders, survey results from S&P Global showed on Monday.

The manufacturing purchasing managers' index, or PMI, rose to 48.3 in November from 48.0 in August. However, any reading below 50 indicates contraction.

The survey revealed that the downturn in the factory activity stemmed from a sharper drop in output and continued reduction in new orders.

Production declined at the quickest pace since April due to lower new orders and supply chain delays. New orders grew at the weakest pace in the current six-month sequence of decline, and there was also a renewed contraction in new export sales.

In line with lower new orders, companies reduced their purchasing activity during November.

On the price front, input price inflation accelerated to the fastest level since May amid higher utility and raw material prices. As a result, selling prices rose at the quickest pace since March.