2018.03.0101:53:00UTC+00Russia Factory Growth Weakest In 19 Months

Russia's manufacturing activity logged the slowest pace of expansion in more than one-and-a-half years in February, survey data from IHS Markit showed Thursday.

The Purchasing Managers' Index, or PMI, dropped to 50.2 in February from 52.1 in January. The index was forecast drop slightly to 52.0.

However, any reading above 50 indicates expansion in the sector.

The overall weak growth in February was stemmed from slower upturns in both output and new orders, with the pace of expansion in the latter at an eight-month low.

Employment fell for the second straight month and at the steepest pace in almost a year.

Meanwhile, new exports orders grew at the fastest pace since November 2011 amid greater demand from foreign clients.

On the price front, price pressures remained muted in the context of the series history.

"Charge inflation eased to the slowest rate in 11 months amid signs of fragile domestic demand conditions and greater competition," Sian Jones, Economist at IHS Markit, said.