Russian firms’ operating conditions improve in October

ISTANBUL

Rapid improvement was seen in the operating conditions of Russian firms last month, Standard & Poors (S&P) Global said on Wednesday.

New order growth strengthened despite continued inflationary pressures in Russia, an S&P press release said.

“The upturn stemmed from stronger expansions in output and new orders,” it noted, stressing that new sales were driven by domestic demand, not exports.

The press release said that inflationary pressures remained substantial as input costs and selling prices rose markedly, adding: “Although cost inflation softened, it was still among the sharpest in three years.”

The purchasing managers’ index (PMI) was at 53.8 in the country last month, slightly down from 54.5 in September.