Russian Manufacturing Booms to 7-Year High Despite Sanctions Burden

Russian manufacturing PMI rose to 54.6 in December, the highest since January 2017, indicating fastest expansion in sector in nearly 7 years
Output and new orders increased sharply, but new export orders fell for the second straight month due to weaker foreign demand
Moscow spending heavily on manufacturing and defense sector to ramp up military production after Ukraine invasion
Inflationary pressures in manufacturing sector softening despite logistics disruptions from sanctions and high imported goods prices
Firms adding staff to reduce backlogs and remain optimistic about future, though confidence dropped to 3-month low