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03.08.202606:24:25UTC+00Russia Manufacturing Growth Hits 18-Month High

Russia’s S&P Global Manufacturing PMI rose to 50.7 in July from 50.3 in June, indicating the strongest improvement in factory activity since January 2025. Output expanded at its fastest pace since January 2025, and new orders increased at the quickest rate since May 2025, driven by stronger domestic demand. In contrast, new export orders declined at the sharpest rate since October 2022.

Employment continued to fall as firms refrained from replacing staff who left voluntarily, although the pace of job cuts slowed to a four-month low. Both input costs and selling prices rose more quickly, with fuel shortages, transport disruptions, and higher supplier charges pushing input price inflation to its fastest rate since January 2026.

Supplier delivery times lengthened to the greatest extent since February 2025 amid ongoing logistics issues, while firms stepped up purchasing to rebuild inventories. Business confidence weakened to its lowest level since May 2020, weighed down by customer uncertainty and intensifying competitive pressures.

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