FX.co ★ Russia Private Sector Grows for First Time in 6 Months

Russia’s S&P Global Composite PMI rose to 50.6 in August 2026 from 49.6 in July, its highest level since February and signaling the first expansion in private-sector activity in six months. The improvement was driven by a renewed increase in services activity, which more than offset a continued decline in manufacturing output.

Nonetheless, demand conditions remained weak, with new orders falling again, though only marginally. Soft demand continued to weigh on employment, leading firms to cut staff numbers as outstanding business declined further.

On the price front, overall input cost inflation eased in August. However, both manufacturers and service providers raised their output charges at a faster pace. Meanwhile, business confidence strengthened, with optimism about the private-sector outlook climbing to its highest level since March.