俄罗斯将从7月7日起增加外汇净销售额。由于分析师和商人对卢布走强的担忧日益加剧，俄罗斯将在未来一个月将其净出售的外汇数量增加近三分之一。

Russia to ramp up net foreign currency sales from July 7.Russia will ramp up the amount of foreign currency it sells on a net basis in the coming month by almost a third, amid growing concern among analysts and businessmen over the strength of the rouble.

标准普尔全球俄罗斯服务业采购经理人指数从5月份的四个月高点52.2降至2025年6月的49.2，这是自2024年6月以来的首次收缩。服务业的低迷是由需求疲软和新销售额增长疲软造成的。然而，就业人数仅略有下降，裁员率从5月份的水平有所放缓，而积压的工作连续第八个月增加。在价格方面，由于供应商价格上涨和工资上涨，投入成本增加，尽管整体投入通胀降至五年多来的最低水平。与此同时，由于企业试图刺激新的销售，产出价格通胀放缓至近四年半以来的最低水平。最后，由于对销售环境逆风的担忧日益加剧，商业情绪降至2023年7月以来的最低水平。

The S&P Global Russia Services PMI fell to 49.2 in June 2025 from May’s four-month high of 52.2, marking the first contraction since June 2024. The downturn in the services sector was driven by muted demand and a softer rise in new sales. However, employment declined only marginally, with the rate of job shedding easing from May’s level, while backlogs of work rose for the eighth consecutive month. On the price front, input costs increased due to higher supplier prices and rising wage bills, although overall input inflation eased to its lowest level in just over five years. Meanwhile, output price inflation moderated to its weakest level in nearly four-and-a-half years, as firms attempted to stimulate new sales. Lastly, business sentiment weakened to its lowest level since July 2023, amid growing concerns over headwinds in the sales environment.

标准普尔全球俄罗斯综合采购经理人指数从上个月的51.4降至2025年6月的48.5。这是自2022年12月以来的最低读数，制造商和服务提供商的产出水平都有所下降。受制造业销售额下降和服务业新业务增长放缓的推动，新订单以3月以来的最快速度下降。与此同时，就业人数以2022年12月以来的最快速度下降。尽管需求疲软，但6月份积压的工作有所增加，因为服务业未完成业务的快速增长超过了手头制造业工作的大幅下降。在价格方面，两个行业的通胀压力都有所缓解。投入成本以2019年11月以来最慢的速度增长，而产出费用则出现了2020年7月以来最疲软的增长。

The S&P Global Russia Composite PMI slumped to 48.5 in June 2025 from 51.4 in the previous month. It marked the lowest reading since December 2022, with both manufacturers and service providers logging lower output levels. New orders declined at the steepest pace since March, driven by a drop in manufacturing sales and a softer rise in services new business. Meanwhile, employment fell at the fastest rate since December 2022. Despite weaker demand, backlogs of work increased in June, as a quicker rise in outstanding business in the services sector outweighed a solid decline in manufacturing work-in-hand. On the price front, inflationary pressures eased across both sectors. Input costs rose at the slowest pace since November 2019, while output charges saw the weakest increase since July 2020.

俄罗斯的失业率从上个月的2.3%降至2025年5月的2.2%，低于市场预测的2.3%，创下历史新低。这一结果与俄罗斯央行的声明一致，该声明指出，由于俄罗斯军事动员和俄罗斯经济能力下降，劳动力短缺。

Russia’s unemployment rate fell to 2.2% in May of 2025 from 2.3% in the prior month, below market forecasts of 2.3% to record a new record low. The result was in line with statements from the Central Bank of Russia, flagging shortages in the labor force due to the Russian military mobilization and the reduced the capacity of the Russian economy.