Russia Manufacturing Gauge Tops Forecasts as Ruble Drives Output

Russian manufacturers reported improving conditions for a fifth month in November, exceeding forecasts by economists as a weaker currency spurred output and pushed input-price growth to the fastest in more than 16 years.

The Russia Manufacturing Purchasing Managers’ Index rose to 51.7, the highest in more than a year, from 50.3 in October, HSBC Holdings Plc said in a statement, citing data compiled by Markit Economics. That exceeded all estimates in a Bloomberg survey of six economists, whose forecasts ranged from 49.9 to 50.2. Readings above 50 indicate expansion.