Federazione Russa Pmi Composite

The S&P Global Russia Composite PMI dropped to 49.8 in June 2024, from 51.4 in May, marking the first contraction in private since January 2023. Despite a decline in service new business, overall new orders rose midyear, driven by a sharper upturn in manufacturing. However, this growth was the slowest in 17 months. To meet capacity requirements, firms continued hiring additional workers in June, with job creation spread across various sectors. Meanwhile, rising costs and output charges at manufacturers and service providers intensified inflation, pushing input and selling prices to five-month highs. Lastly, business confidence dipped to a ten-month low, despite more upbeat expectations among manufacturers.