FX.co ★ Russia Private Sector Growth at 7-Month High

Russia’s S&P Global Composite PMI inched up to 50.8 in September 2026 from 50.6 in August, its highest level since February, indicating a second consecutive month of expansion in private sector activity. Manufacturing output continued to decline but at a slower rate, while growth in the services sector remained unchanged from the previous month. New orders stabilized following six straight months of contraction. Employment continued to fall, though the pace of job cuts slowed to its weakest since February. Capacity pressures stayed muted and backlogs of work fell again. On the inflation front, cost pressures eased: both input prices and output charges rose at their slowest pace in three months. Manufacturers and service providers alike reported more moderate increases in costs and selling prices, pointing to a broad-based softening of inflationary pressures across the private sector.