Russian manufacturing sector sees sharp improvement

ISTANBUL

The Russian manufacturing sector improved sharply in September, growing at its fastest pace in six years, S&P Global said on Monday.

The sector saw the strongest expansion in new orders since January 2017, and the fastest rise in employment since November 2000, it said in a report, adding that input buying grew at a record pace “despite sharper cost inflation.”

The Purchasing Managers’ Index (PMI) for the manufacturing sector came at 54.5, from 52.7 in August.

“Overall growth accelerated for the second month running and was notably faster than the long-run series average,” it said.