Russian Manufacturing Gauge Returns to Growth as Output Surges
Door panels sit in a rack before fitting to Lada Vesta automobiles on the assembly line at the Izhevsk Automobile Plant, operated by AvtoVAZ OAO, in Ishevsk, Russia, on Thursday, April 14, 2016. AvtoVAZ's Lada is Russia's largest car brand and best-selling nameplate.
Photographer: Andrey Rudakov/BloombergA gauge tracking Russia’s manufacturing industry jumped to the highest level since November 2014, topping economist forecasts as domestic demand powered gains in orders and output.
The Purchasing Manager’s Index surged to 51.5 in June from 49.6 in May, rising above the threshold of 50 that separates contraction from growth for the first time since last November, Markit Economics said Friday in a statement. That was better than every forecast in a Bloomberg survey of six economists, whose median estimate was was for an advance to 50.