/ world today news/ The Russian economy is starting to recover, according to the data of the analytical company IHS Markit, quoted by The Financial Times, RIA Novosti reports on Wednesday (November 2).
In October, the business activity index (PMI) in the industrial sector of the Russian economy rose to 52.4 points, while in September it was 51.1 points. This is its highest value in the last four years. Economists had predicted that it would reach 50.9 points at most because of the sharp drop in oil prices.
However, new data show that Russia’s industrial sector is gradually recovering. However, employment remains a problem: despite “substantial” growth in production, companies continue to cut staff, writes the FT based on research by IHS Markit.
“Manufacturers reported substantial output growth and new orders, despite a decline in overseas orders. The encouraging thing is that manufacturing developments are likely to continue…” forecast economist Samuel Agas of IHS Markit.
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