FX.co ★ Russia Composite PMI Near Flat in November

In November 2025, Russia's S&P Global Composite PMI slightly decreased to 50.1 from October's 50.2, indicating a general stagnation in private-sector activity. The growth in the services sector nearly balanced out the more significant drop in manufacturing output. After five months of decline, total new orders steadied, buoyed by a renewed increase in service sector orders. Employment levels generally rose, with the manufacturing sector resuming job creation. Both operating expenses and selling prices increased at a slower pace, remaining under their respective series averages. This trend is attributed to rising inflationary pressures in manufacturing that have now eased in services. Additionally, there is a noted increase in optimism among both manufacturers and service providers regarding output for the upcoming year.