Russia's manufacturing sector expanded in June

Russia's manufacturing sector continued to expand in June, while operating conditions improved at a strong rate, amid steep increases in output and new orders, data provider S&P Global announced on Monday.

"Meanwhile, sustained demand conditions encouraged firms to take on additional staff, as employment rose at the fastest rate on record," it stressed.

Firms also stepped up their input buying, and some looked to build safety stocks as business sentiment ticked higher, it added.

S&P Global stated that cost pressures built amid higher logistics charges, with input prices increasing at the fastest pace since Nov. 2023.

The Purchasing Managers' Index (PMI) rose to 54.9 in June, up from 54.4 in May.