MOSCOW, Dec. 29 (Xinhua) -- Russia's manufacturing Purchasing Managers' Index (PMI) fell to 48.1 points in December, down from 48.3 points a month ago, S&P Global said in a monthly report Monday.
The PMI above 50 points signals growth in business activity, and contraction when it falls below that threshold, according to S&P Global, a global leading analytics and financial information agency.
The overall decline was driven by continued contractions in output and new orders, with the former falling at its fastest pace in nearly four years, the report said, adding that the latest downturn was a result of a sharper contraction in production at manufacturing firms.
In December, rising cost pressures dampened manufacturers' confidence in the outlook for output over the coming year. Cost inflation accelerated to its fastest pace since March, causing the continuous rise of selling prices.
As a result of weaker output expectations, employment contracted again and input buying fell for another month, it said. ■