03.10.201602:43:00UTC+00Russia Manufacturing Sector Expands For Second Month

Russia's manufacturing activity expanded for the second straight month in September, driven by solid growth in production, survey figures from Markit Economics showed Monday.

The seasonally adjusted Purchasing Managers' Index, or PMI, rose to 51.1 in September from 50.8 in August. Any reading above 50 indicates expansion in the sector.

The upturn in September was driven by the sharpest increase in production for twenty-two months. New orders also grew at a solid pace, wit the rate of growth was the most marked since June.

Despite fuller new order books, firms reduced their payroll numbers for the third successive month running in September.

On the price front, input price inflation eased to a 16-month low in September. Manufacturers continued to raise their output prices further.

Looking ahead, if the upturn in production and new orders can be sustained, then the sector looks set to enjoy a strong finish to 2016," Samuel Agass, Economist at Markit, said