Russian factory activity expands at quickest rate in six years in Feb -PMI
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An employee works in a blast furnace shop at Magnitogorsk Iron and Steel Works (MMK) in the city of Magnitogorsk, Russia October 20, 2022. REUTERS/Alexander Manzyuk
MOSCOW, March 1 (Reuters) - Activity across Russia's manufacturing sector expanded at its fastest rate in six years in February, driven by upticks in production and new sales, while higher input costs added to inflationary pressures, a business survey showed on Wednesday.
The S&P Global Purchasing Managers' Index (PMI) rose in February to 53.6 from 52.6 in January, moving further above the 50 mark that separates expansion from contraction.
The sector has now seen growth for 10 months in a row, an upturn predicated on domestic demand as new export orders have contracted for 13 months running, while Moscow has prosecuted what it calls a "special military operation" in Ukraine.
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