FX.co ★ Russia Composite PMI Lowest in 3 Months

Russia’s S&P Global Composite PMI slipped to 48.9 in June 2026 from 49.2 in May, its lowest level since March and indicating a fourth consecutive month of contraction in private-sector activity. The downturn was driven by persistent weakness in the service sector, which more than outweighed continued growth in manufacturing output. New orders declined again, reflecting a steeper fall in services demand, while manufacturing sales were broadly unchanged. At the same time, backlogs of work kept shrinking, highlighting spare capacity across the private sector. In response, firms deepened workforce reductions, with some companies attributing the cuts to cost-saving initiatives. On the price side, both input costs and output charges continued to rise, but inflationary pressures moderated further, as the pace of increases in costs and selling prices slowed to the weakest rates of 2026 so far in both manufacturing and services.