Domestic demand more than made up for falling export sales to drive growth in Russian manufacturing in December, a survey showed on Thursday, leading to the fastest monthly rise in job creation in the sector in over 21 years.
The S&P Global Purchasing Managers' Index eased in December to 53.0 from 53.2 in November, but was still above the 50 mark that separates expansion from contraction. November's reading was its highest since January 2017.
The contraction in new export orders weighed on total sales growth, S&P Global said, attributing the drop in foreign client demand to the impact of sanctions against Moscow over its actions in Ukraine. "Suppliers' delivery times at Russian manufacturing firms continued to lengthen in December, as vendor performance deteriorated further," S&P Global said.
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