Russia Manufacturing Growth Improves March

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Russia's manufacturing growth improved slightly in March after easing to a 19-month low in the previous month, survey data from IHS Markit showed Monday.

The Purchasing Managers' Index, or PMI, rose to 50.6 in March from 50.2 in February. Any reading above 50 indicates expansion in the sector.

Output continued to rise solidly in March, despite the rate of growth easing to a five-month low. Similarly, new orders increased at a weaker pace.

A slower upturn in new orders led to spare production capacity, with both backlogs and employment contracting in March.

On the price front, inflationary pressure meanwhile remained muted in the context of the series history.

Business confidence dipped to a three-month low, but was strongly positive overall.