Russia’s S&P Global Manufacturing PMI fell to 48.3 in March from 49.5, marking the lowest since December and a tenth straight month of drop in factory activity. Output declined at the sharpest pace in three months, while new orders shrank the most since last October. Foreign demand remained weak, though the pace of decline eased slightly. Buying levels plunged, posting the steepest fall in four years, and employment dropped for a fourth month. Backlogs fell further, with depletion accelerating despite supply delays from logistical disruptions. On prices, input cost pressures intensified, rising at the second-fastest pace in over a year on higher fuel and supplier prices, though still below the long-term trend. Firms passed on some costs, but output price inflation slowed to a marginal, historically subdued rate. Lastly, business confidence weakened for a second month, hitting its lowest in nearly four years amid fragile demand and solvency concerns. source: S&P Global

Manufacturing PMI in Russia decreased to 48.30 points in March from 49.50 points in February of 2026. Manufacturing PMI in Russia averaged 50.31 points from 2011 until 2026, reaching an all time high of 55.70 points in March of 2024 and a record low of 31.30 points in April of 2020. This page provides the latest reported value for - Russia Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Manufacturing PMI in Russia decreased to 48.30 points in March from 49.50 points in February of 2026. Manufacturing PMI in Russia is expected to be 50.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Manufacturing PMI is projected to trend around 51.40 points in 2027 and 51.80 points in 2028, according to our econometric models.



Related Last Previous Unit Reference
Business Confidence -0.90 0.10 points Mar 2026
Capacity Utilization 62.00 61.00 percent Feb 2026
Car Production 66.10 47.20 Thousand Units Feb 2026
Changes in Inventories 1358.00 1933.10 RUB Billion Sep 2025
Corporate Profits 2029.10 27073.00 RUB Billion Jan 2026
Corruption Index 22.00 22.00 Points Dec 2025
Corruption Rank 157.00 154.00 Dec 2025
Industrial Production YoY -0.90 -0.80 percent Feb 2026
Industrial Production Mom -1.20 -23.70 percent Feb 2026
Manufacturing Production -2.80 -3.00 percent Feb 2026
Mining Production 0.90 0.50 percent Feb 2026
Steel Production 5000.00 5500.00 Thousand Tonnes Feb 2026
Vehicle Sales YoY 102077.00 77163.00 Units Mar 2026


Russia Manufacturing PMI
The S&P Global Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 300 manufacturing companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

News Stream
Russia Manufacturing PMI Dips to 3-Month Low
Russia’s S&P Global Manufacturing PMI fell to 48.3 in March from 49.5, marking the lowest since December and a tenth straight month of drop in factory activity. Output declined at the sharpest pace in three months, while new orders shrank the most since last October. Foreign demand remained weak, though the pace of decline eased slightly. Buying levels plunged, posting the steepest fall in four years, and employment dropped for a fourth month. Backlogs fell further, with depletion accelerating despite supply delays from logistical disruptions. On prices, input cost pressures intensified, rising at the second-fastest pace in over a year on higher fuel and supplier prices, though still below the long-term trend. Firms passed on some costs, but output price inflation slowed to a marginal, historically subdued rate. Lastly, business confidence weakened for a second month, hitting its lowest in nearly four years amid fragile demand and solvency concerns.
2026-04-01
Russia Manufacturing Nears Stabilization
The S&P Global Russia Manufacturing PMI rose slightly to 49.5 in February 2026 from 49.4 in January, signaling only a marginal decline in sector health and marking the softest downturn in the current nine-month sequence of contraction. Production fell at its slowest pace in 12 months, supported by broadly stable new order inflows. Export orders, however, fell faster, reflecting muted international demand. Employment declined to its fastest since June 2025, while backlogs of work fell modestly for the 13th month in a row. Input purchases and inventories contracted at the quickest pace in four months as firms used existing stocks to meet orders. Rates of input cost and output charge inflation eased notably from January’s VAT-driven highs, remaining below long-run averages. Business confidence slipped to one of the lowest levels in over three-and-a-half years, though some firms remained optimistic due to technology investments and hopes of stronger demand.
2026-03-02
Russia Manufacturing PMI Rises to 8-Month High
The S&P Global Russia Manufacturing PMI rose to 49.4 in January 2026 from 48.1 in December 2025. This marked the eighth consecutive month of contraction, but the mildest downturn in the sequence, as new orders declined only marginally amid improving demand and inflows of small orders, while foreign sales fell slightly. Meanwhile, output contracted at the slowest pace in the current 11-month sequence, reflecting a less pronounced decline in new sales. Employment fell at the fastest rate since last June, while firms continued to deplete their backlogs of work. Input buying continued to decline, although the pace of contraction slowed to a marginal rate. On prices, input cost inflation accelerated due to higher costs following the recent VAT hike. As a result, selling prices rose as firms sought to pass on higher costs to customers. Finally, business sentiment weakened to its lowest level in nearly three-and-a-half years.
2026-02-02