01.06.202606:04:25UTC+00Russia Manufacturing Shrinks the Least in 3 Months

Russia’s S&P Global Manufacturing PMI rose to 48.8 in May from 48.1 in April. Although this still indicates a contraction and marks a twelfth consecutive month of declining factory activity, it was the mildest downturn in three months, with output returning to growth.

New orders, however, recorded their steepest decline since July 2025, and new export orders fell at the fastest rate since September 2025. Employment posted a solid decrease, marking the second-quickest pace of job losses since June 2025.

Purchasing activity increased at its fastest rate since the beginning of 2025, while supplier delivery times lengthened, though the deterioration was only marginal.

On the price front, input cost inflation accelerated to its second-highest rate since January 2025, driven by rising fuel, metal, and electrical equipment prices. Selling prices increased at the fastest pace since February 2025. Finally, business confidence weakened, reflecting concerns about customers’ purchasing power.