FX.co ★ Russia Services PMI Rises to 6-Month High

The S&P Global Russia Services PMI increased to 52.2 in November 2025, up from 51.7 in October, indicating a second successive month of expansion. This also represents the strongest growth since May, as both output and new orders rose, driven by more robust demand conditions. In response to this uptick in new orders, companies expanded their workforce, though the rate of job creation slowed to a four-month low and was only marginal. On the pricing side, input costs increased due to higher wages and elevated supplier expenses, although the growth rate remained below the long-term average. Concurrently, selling prices increased at a milder pace and stayed below the series average, but output prices still rose as companies passed these higher costs onto clients. Finally, business confidence improved from October's 34-month low, fueled by plans for new product launches and investment in acquiring customers. Nonetheless, overall sentiment remained relatively subdued.