The Russian manufacturing sector recorded strong growth in January after stagnating in the previous month, data from a survey by Markit Economics and HSBC Bank showed Friday.
The seasonality adjusted purchasing managers' index (PMI) for the manufacturing sector increased to 52 in January from 50 in December, which was the lowest reading in 15 months. An index reading above 50 indicates expansion, while one below suggests decline.
New orders received by Russian manufacturers increased at the fastest pace since March 2011 in January, helped mainly by strong growth in the domestic market.
Reflecting the upturn in new business, production at Indian factories increased at a notably faster rate in January after recording a slower growth in the previous month. Production has increased in every month since August 2009.
Firms, meanwhile, lowered their workforces for the third consecutive month in January, and the rate of reduction matched December's 40-month record.
Input prices faced by manufacturers increased at the second-slowest rate in four years, owing mainly to higher energy and transport costs. Companies increased their output prices for the eleventh successive month, though at a modest rate.
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