FX.co ★ Russia Composite PMI Falls to 3-Month Low

Russia’s S&P Global Composite PMI slipped to a neutral 50.0 in October 2026, down from September’s seven-month high of 50.8, signaling a stagnation in private-sector business activity after two months of marginal growth. The loss of momentum reflected a slower contraction in manufacturing orders being offset by a renewed decline in sales across the services sector. Employment inched up, bringing an end to an eight-month period of job cuts, while backlogs of work fell markedly, registering the sharpest decline in three months. On the cost side, input prices rose steeply: a moderation in manufacturing input cost inflation was outweighed by a faster increase in expenses for service providers. In turn, output charges climbed to a nine-month high, largely driven by price increases in the services economy.