Russian Federation Composite PMI

Last Release

Aug 31, 2023

Actual

55.9

Units In

Points

53.3

Frequency

Monthly

Next Release

Oct 04, 2023

Time to Release

28 Days 4 Hours

Highest	Lowest	Average	Date Range	Source
58.3 Jan 2017	13.9 Apr 2020	51.17 Points	2013-2023	Markit Economics

In Russia, the Markit Russia Composite Output Index tracks business trends across private sector activity, based on data collected from a representative panel of around 300 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.

Latest Updates

The S&P Global Russia Composite PMI rose to a 5-month high of 55.9 in August 2023 from 53.3 in the prior month, driven by sustained upturns in manufacturing and accelerated growth in service sector output. The steepest increase in new orders since June 2008 contributed to the rise in business activity. On the price front, the ongoing depreciation of the ruble caused an increase in input costs for manufacturers and service providers, resulting in the most rapid rise in operating expenses since April 2022. At the same time, firms hiked selling prices at a sharper pace. Regarding employment level, the total workforce continued to surge during the month, led by a sharper rise in service sector employment. Looking ahead, businesses' output expectations remained optimistic for the upcoming year, with both manufacturers and service providers foreseeing growth in business activity.