The business activity index in the procurement sector (PMI) for…
The business activity index in the procurement sector (PMI) for Russia's services sector rose to 49 points in July, up from 48.2 points the previous month.
Consensus
- The PMI index for Russia's manufacturing sector increased in July 2026 compared to June.
- The PMI index for the services sector in Russia rose to 49 points in July 2026 from 48.2 points in June.
- The composite PMI index for both manufacturing and services reached 49.6 points in July 2026, the highest since February.
- Companies in the services sector continued to reduce staff in July, though at a slower pace than in June.
- The volume of new orders declined for the fourth consecutive month, but at a minimal rate.
- Business optimism increased slightly in July, though it remains below long-term trends.
- Rising production costs were reported due to fuel shortages and higher transportation tariffs.
- Companies raised selling prices to offset rising costs, though not as much as the cost increases.
- The volume of unfinished orders continued to decline due to high capacity utilization and weak new order inflows.
Points of divergence
- The intensity of staff reduction in the processing industry reached a post-pandemic minimum in July, indicating improved employment conditions. — kommersant
- 43% of enterprises reported underutilization of workforce, the highest level since 2014, indicating weak industrial conditions. — kommersant
- The growth in the manufacturing PMI was driven by increased domestic demand, leading to higher production and new orders. — vedomosti
- Export orders declined sharply, with companies citing reduced demand from key international markets. — vedomosti
- The rate of staff reduction in the services sector was lower in July than in June, which was the highest in three and a half years. — interfax
Coverage (5 sources)
- Business activity in Russia's services sector slowed in July — Ведомости
- The Russian services PMI index rose to 49 points in July from 48.2 points in June — Интерфакс
- In July, the situation in the Russian industry improved slightly — Коммерсантъ
- The growth rate of the PMI index of the processing industries of the Russian Federation reached an 18-month maximum — Ведомости
- Russia's manufacturing PMI index rose to 50.7 points in July from 50.3 points in June — Интерфакс