Russia Manufacturing Shrinks the Most in 4 Months

2026-05-04 06:04 By Chusnul Chotimah 1 min. read

Russia’s S&P Global Manufacturing PMI inched down to 48.1 in April from 48.3 in March, marking the eleventh straight month of contraction in factory activity.

The latest reading also marked the deepest contraction since last December, due to further declines in output, new orders, and employment, with the latter falling at the quickest pace in four years.

A further contraction in foreign sales also weighed on total new orders.

Purchasing activity declined further, though the rates of decline in input buying and the depletion of both stocks of purchases and finished goods eased.

Meanwhile, delivery times lengthened slightly.

On the price front, input cost inflation accelerated to the second-sharpest pace in over a year, driven by higher shipping, logistics, and raw material prices.

Selling prices rose faster as higher costs were passed through to clients.

Finally, business confidence improved to a seven-month high amid hopes of stronger demand from export markets.



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Russia Manufacturing Shrinks the Most in 4 Months
Russia’s S&P Global Manufacturing PMI inched down to 48.1 in April from 48.3 in March, marking the eleventh straight month of contraction in factory activity. The latest reading also marked the deepest contraction since last December, due to further declines in output, new orders, and employment, with the latter falling at the quickest pace in four years. A further contraction in foreign sales also weighed on total new orders. Purchasing activity declined further, though the rates of decline in input buying and the depletion of both stocks of purchases and finished goods eased. Meanwhile, delivery times lengthened slightly. On the price front, input cost inflation accelerated to the second-sharpest pace in over a year, driven by higher shipping, logistics, and raw material prices. Selling prices rose faster as higher costs were passed through to clients. Finally, business confidence improved to a seven-month high amid hopes of stronger demand from export markets.
2026-05-04
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