Russia’s factory activity deteriorated at the slowest pace in nine months amid broad stabilization in new orders after an 8-month sequence of contraction, survey results from S&P Global showed on Monday.
The manufacturing purchasing managers’ index, or PMI, rose slightly to 49.5 in February from 49.4 in January. However, any reading below 50 indicates contraction.
Output fell at the slowest pace in the current 12-month sequence of decline. Meanwhile, new orders broadly stabilized in February as some firms highlighted greater client interest, although there were subdued demand conditions overall. Nonetheless, new export orders fell at a faster rate.
Lower production requirements forced firms to reduce input buying at the quickest pace in four months, and they also cut employment levels, with the rate of job shedding accelerating to the sharpest since June 2025.
On the price front, both input and output price inflation moderated in February, following substantial increases in each amid a hike in VAT in January.
Looking ahead, business confidence decreased to one of the lowest in over three-and-a-half years as output expectations were weighed by challenging business conditions.
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