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2013.11.0102:23:00UTC+00Russian Manufacturing Activity Rebounds Sharply

Russian manufacturing sector experienced a sharp rebound in October driven by a resurgence in domestic demand, a survey by HSBC and Markit Economics revealed Friday.

The headline purchasing managers' index rose to 51.8 in October from 49.4 in September. A PMI reading above 50 indicates expansion of the sector.

The volume of new orders rose at the fastest rate in eight months, leading to the strongest growth of output in a year, the survey report said.

At the same time, weak export inflows continued to weigh on the sector, contracting at the fastest rate in over four years. Manufacturers also continued to cut workforces on average, Markit said.

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