Russia Manufacturing PMI Rises to 49.8 in September, Still Signals Contraction

Russia's manufacturing sector remained in contraction territory in September, with the S&P Global Russia Manufacturing Purchasing Managers' Index rising to 49.8 from 48.8 in August, still below the 50 no-change threshold. Output and new orders both fell for a second consecutive month, with firms citing weak demand and higher prices. Export orders declined for the 11th straight month at the sharpest pace since May 2022. Employment contracted for the 10th consecutive month, with job shedding the fastest since May. Cost pressures eased to a three-month low, while output price inflation slowed to its weakest since June. Supplier delivery times lengthened to the greatest extent since October 2024 on transportation delays. Business optimism for the year ahead rose to a three-month high on hopes of stronger demand, though remained below the series average.