Russian factory activity grows at fastest pace in over six years in Sept -PMI
© Reuters. An employee works in a blast furnace shop at Magnitogorsk Iron and Steel Works in the city of Magnitogorsk, Russia October 20, 2022. REUTERS/Alexander Manzyuk/File Photo - Activity in Russian manufacturing grew at its fastest pace in more than six years in September, a survey showed on Monday, while employment in the sector rose at its quickest rate in over two decades.
"Stronger client demand, new product launches and successful import substitution reportedly drove the upturn," S&P Global said in a statement."The acceleration in growth was led by domestic demand, as new export orders increased at a slower and only marginal pace. "Challenging economic conditions in key markets were noted as weighing on the rise in sales from abroad, S&P Global said.
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