Russia had been one of the few bright spots

Russia had been one of the few bright spots ... will the last to leave please turn out the lights ...
The PMI equalled the no-change mark of 50.0 in
December, ending a 14-month period of positive
readings. The fall in the PMI from November’s 52.2 was
among the steepest registered in the past four years,
and took the average for the final quarter of 2012 below
those for both Q2 and Q3. The downward movement in
the index was primarily influenced by its three main
components – new orders, output and employment.

Russian manufacturers reduced headcounts for the
second month running in December, the first back-toback
fall in employment in the sector for over a year.
Moreover, the rate of job shedding was the fastest since
August 2009.

http://www.markiteconomics.com/MarkitFiles/Pages/ViewPressRelease.aspx?ID=10499