logo
  

Russia Factory Activity Growth Accelerates On Production, Orders

Russia's manufacturing activity grew at the fastest pace in three-and-a-half years in September, supported by increases in production and new orders, survey data from S&P Global showed on Monday.

The factory Purchasing Managers' Index posted 52.0 in September, up from 51.7 in August. A score above 50.0 suggests expansion.

Manufacturers said increased output was due to greater client demand and higher new order inflows, in turn often led by import substitution. The increase was the joint-fastest since February 2021.

New orders increased strongly in September and the pace of expansion was the second-quickest since April 2019.

Input costs increased at slower pace in September, reflecting reductions in some material and energy prices. Companies passed on lower costs to clients, where input prices had decreased. However, the decline in selling prices was only marginal.

Firms also expanded their workforce numbers, as backlogs of work declined markedly.

Business confidence strengthened amid greater new order inflows, with the level of positive sentiment reaching its highest since March 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Drug major Pfizer Inc. reported Tuesday higher earnings in its fourth quarter, above market estimates, and an all-time high revenues in its fiscal 2022. Meanwhile, the company projects sharply lower adjusted earnings and revenues in its fiscal 2023, below Wall Street estimates, reflecting projected decline for COVID-19 products. In pre-market activity on the NYSE, Pfizer shares were losing around Oil major Exxon Mobil Corp. (XOM) reported Tuesday that fourth-quarter net income was $12.75 billion or $3.09 per share, up from $8.87 million or $2.08 per share in the prior-year quarter. Excluding special items, adjusted earnings were $3.40 per share, compared to $2.05 per share in the prior-year... La Mirada, California-based Daiso California LLC is recalling certain Matsunaga Mini Shiruko Sand Biscuits citing undeclared soy, an allergen, the U.S. Food and Drug Administration said. The recall incolves Matsunaga Mini Shiruko Sand Biscuits with sku 4902773016966, packaged in four pink and cream bags chained together. Each individual serving is 25g for an entire product weight of 100g.
Follow RTT