02.02.202606:16:47UTC+00Russia Manufacturing PMI Rises to 8-Month High

The S&P Global Russia Manufacturing PMI increased to 49.4 in January 2026, up from 48.1 in December 2025. Although this indicates the eighth consecutive month of contraction, it was the least severe decline in this period. The decrease in new orders was slight amid signs of improving demand, with minor orders flowing in, while international sales experienced a small dip. Concurrently, production saw the slowest decline in an ongoing 11-month downturn, suggesting a less severe drop in new sales. Employment rates declined at their fastest since June of the previous year, with companies continuing to work through their backlog. Although input purchasing continued its downward trend, the rate of contraction had slowed to a minimal level. On the pricing front, input cost inflation quickened as a result of increased expenses following a recent VAT increase. Consequently, firms raised their selling prices in an attempt to offset higher input costs. Lastly, business confidence dropped to its lowest point in nearly three and a half years.