- This content was created in Russia, where law restricts coverage of Russian military operations in Ukraine
Reuters It was the fastest monthly increase in more than 21 years.
The S&P Global Purchasing Managers Index (PMI) eased to 53.0 in December from 53.2 in November, but was still above the 50 mark that separates expansion and contraction. The November reading was the highest since January 2017.
“Rising production levels are associated with monthly increases in new orders and the acquisition of new customers,” S&P Global said. “Production growth softened from a recent high in November but was the second fastest since August 2020.”
S&P Global said a decline in new export orders weighed on overall sales growth, while the impact of sanctions against Moscow over its actions in Ukraine was attributed to lower demand from foreign customers.
Western restrictions and a massive exodus of businesses from Russia have caused logistical delays and shortages this year.
“Russian manufacturers’ suppliers’ delivery times continued to drag in December as vendor performance worsened,” S&P Global said.
The sector lost momentum after President Vladimir Putin announced a “partial mobilization” in October. Conscripted for military operations.
However, it has shown resilience since then, with output expectations rising to the second highest level since March 2019 in December on hopes of stronger customer demand, the study found. was shown.
Businesses have linked the increase in new orders with a sharp increase in employment in this sector, which has grown at its fastest pace since September 2001.
Reporting by Alexander Marrow.Edited by Hugh Lawson
Our Standards: Thomson Reuters Trust Principles.