FX.co ★ Russia Private Sector Shrinks the Least in 3 Months

In August 2025, the S&P Global Russia Composite PMI increased to 49.1, following July's nearly three-year low of 47.8. This indicates a continued contraction in the private sector for the third month in a row, albeit at a slower rate. While services activities showed signs of stabilization, manufacturing output continued to decline. The overall new orders experienced a slight drop, with slower decreases noted in both goods and services. Notably, employment saw an upswing, marking its first expansion in six months. Job creation reached its highest pace since February, aiding companies in managing their backlog. In terms of pricing, input cost inflation diminished to its lowest level since June 2009. This, coupled with a renewed decline in manufacturers' selling prices, helped curb overall output charge inflation. Meanwhile, business confidence remained notably strong, fueled by heightened optimism among manufacturers.