Russia Manufacturing Shrinks the Least in 3 Months

2025-12-01 06:08 By Chusnul Chotimah 1 min. read

The S&P Global Russia Manufacturing PMI rose to 48.3 in November 2025 from October’s 48.0.

It marked the sixth consecutive month of contraction, though the softest downturn since August, as new sales fell at the weakest pace in the current six-month sequence of decline amid subdued demand conditions, with foreign sales returning to contraction.

Meanwhile, output shrank at the fastest pace since April 2022, driven by lower new orders and supply chain delays.

Employment increased at the fastest rate since July 2024.

However, despite a drop in purchasing, manufacturers recorded a renewed extension in supplier delivery times, leading to the largest deterioration in vendor performance since February.

On prices, input cost inflation accelerated, while output inflation rose to an 11-month high as firms sought to pass higher costs on to customers.

Lastly, business sentiment improved, supported by planned investment in new products and technology and expectations of stronger demand conditions.



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The S&P Global Russia Manufacturing PMI rose to 48.3 in November 2025 from October’s 48.0. It marked the sixth consecutive month of contraction, though the softest downturn since August, as new sales fell at the weakest pace in the current six-month sequence of decline amid subdued demand conditions, with foreign sales returning to contraction. Meanwhile, output shrank at the fastest pace since April 2022, driven by lower new orders and supply chain delays. Employment increased at the fastest rate since July 2024. However, despite a drop in purchasing, manufacturers recorded a renewed extension in supplier delivery times, leading to the largest deterioration in vendor performance since February. On prices, input cost inflation accelerated, while output inflation rose to an 11-month high as firms sought to pass higher costs on to customers. Lastly, business sentiment improved, supported by planned investment in new products and technology and expectations of stronger demand conditions.
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