Russia’s manufacturing expansion grew in October, HSBC Holdings said Monday.
The Purchasing Managers’ Index rose to 51.8 from 51.2 in September, HSBC said in a report, citing data compiled by Markit Economics. The survey-based index indicates a contraction when it is below 50 and growth with a figure above 50.
“HSBC survey data suggested that the recovery in Russia’s manufacturing sector remained lackluster in October, while inflationary pressures intensified,” it said in the report.
(Bloomberg)
