S&P Global: Russian private sector sees fastest growth since March

Russia’s private sector posted its fastest expansion since March, with the S&P Global Russia Composite PMI Output Index rising to 52.6 in November from 50.9 in October, , according to the latest PMI® survey from S&P Global on Wednesday.

The uptick reflects solid growth across sectors, driven by a rebound in manufacturing new orders and accelerated services business activity.

Total new sales experienced their sharpest increase since April, supported by a rise in services employment, which offset slight workforce reductions in manufacturing.

Backlogs of work remained stable, with a renewed upturn in the service sector countering a decline in manufacturing work-in-hand.

The data highlights sustained momentum in Russia’s private sector for a second consecutive month.

Attribution: S&P Global

Subediting: Y.Yasser