“Operating conditions at Russian manufacturers continued to improve during May, according to latest PMI data from S&P Global. Output growth strengthened amid sustained and robust customer demand, which drove the upturn in new orders. New export sales fell further, however, albeit at only a fractional pace. The sharp rise in new business led firms to expand capacity, as the pace of job creation accelerated to the second-fastest on record, and the steepest since September 1997. Employment growth stemmed in part from a third successive monthly uptick in backlogs of work. Nonetheless, business con…