The S&P Global Russia Manufacturing PMI fell to 47.5 in June 2025, down from 50.2 in May, signaling a return to contraction in factory activity. The latest reading also marked the steepest decline since March 2022, as new orders resumed their fall and output shrank at a faster rate. The new sales dropped the most since March, driven by reduced purchasing power and weak client demand.
Meanwhile, foreign sales fell at the sharpest pace since November 2022, amid unfavorable exchange rates. As a result, employment declined, with the pace of job shedding the fastest since April 2022, while backlogs of work dropped at a quicker rate. On the price front, input cost inflation eased to its lowest level since February 2020, reflecting suspended hikes in material prices. Output cost inflation also slowed, reaching its softest pace since November 2022. Looking ahead, business sentiment weakened to its lowest level since October 2022, amid growing concerns over global economic uncertainty.
