标准普尔全球俄罗斯服务业采购经理人指数在2025年8月升至50.0的四个月高点，高于7月的13个月低点48.6，表明在连续两个月收缩后，整体活动水平没有变化。虽然一些公司继续报告需求疲软，但有迹象表明，新业务下降放缓有助于稳定产出。新订单连续第二个月下降，尽管幅度不大，因为公司表示财务状况严峻，客户犹豫不决。就业人数小幅增长，创下2月以来最快的就业增长速度。与此同时，积压的工作大致没有变化。在价格方面，投入成本通胀降至2020年5月以来的最低水平。然而，由于企业试图将更高的成本转嫁给客户，产出成本通胀加速至七个月来的最高点。最后，商业信心减弱，降至2023年7月以来的第二低水平。

The S&P Global Russia Services PMI rose to a four-month high of 50.0 in August 2025, up from July’s 13-month low of 48.6, signaling no change in overall activity levels following two consecutive months of contraction. While some companies continued to report subdued demand conditions, there were indications that a slower decline in new business contributed to a stabilization in output. New orders fell for the second consecutive month, albeit only slightly, as firms cited challenging financial conditions and customer hesitancy. Employment increased modestly, marking the fastest pace of job creation since February. Meanwhile, backlogs of work were broadly unchanged. On the price front, input cost inflation eased to its lowest level since May 2020. However, output cost inflation accelerated to a seven-month high, as firms sought to pass higher costs on to customers. Finally, business sentiment weakened, falling to the second-lowest level since July 2023.

标准普尔全球俄罗斯综合采购经理人指数从7月份的近三年低点47.8升至2025年8月的49.1。虽然这标志着私营部门连续第三个月收缩，但它标志着这一序列中最疲软的步伐。服务业活动趋于稳定，但制造业产出继续下降。新订单总额小幅下降，反映出商品和服务的下降速度放缓。就业人数六个月来首次增加，创造了自2月以来最快的就业机会，帮助企业管理积压的工作。在价格方面，投入成本通胀降至2009年6月以来的最低水平，而制造商销售价格的再次下降抑制了整体产出费用通胀。与此同时，受制造商乐观情绪改善的支撑，商业信心保持历史强劲。

The S&P Global Russia Composite PMI rose to 49.1 in August 2025 from July’s near three-year low of 47.8. While signaling the third consecutive month of private sector contraction, it marked the softest pace in the sequence. Services activity stabilized, but manufacturing output continued to decline. Total new orders fell modestly, reflecting slower decreases across both goods and services. Employment expanded for the first time in six months, with job creation at its fastest pace since February, helping firms manage backlogs. On prices, input cost inflation eased to its weakest level since June 2009, while a renewed drop in manufacturers’ selling prices curbed overall output charge inflation. Meanwhile, business confidence remained historically strong, supported by improved optimism among manufacturers.

俄罗斯央行官员表示，俄罗斯在抗击通胀方面取得了实质性进展。俄罗斯央行副行长阿列克谢·扎博特金周二在定于9月12日举行的利率制定会议之前表示，俄罗斯在抗击通胀方面取得了实质性进展。

Russia has made substantial progress in fighting inflation, central bank official says.Russia has made substantial progress in fighting inflation, Alexei Zabotkin, deputy governor of the central bank, said on Tuesday, ahead of a rate-setting meeting scheduled for September 12.

标准普尔全球俄罗斯制造业采购经理人指数从上个月的47.0升至2025年8月的48.7，这是自5月以来的最高水平，尽管这标志着工厂活动连续第三个月下降。产出收缩速度较慢，新订单下降幅度为三个月来最小。与此同时，在延长轮班模式的努力下，就业恢复增长。积压的工作连续第七个月下降，尽管是这一时期最疲软的。出口需求依然疲软，新的外国订单六个月来第五次下降。采购活动温和放缓，供应商表现连续第五个月基本稳定。在价格方面，由于需求疲软，投入成本以有史以来最慢的速度上涨，促使企业近三年来首次降价。展望未来，商业信心在广告和产品发布计划方面有所改善，但仍接近2022年底以来的最低水平。

The S&P Global Russia Manufacturing PMI was up to 48.7 in August 2025 from 47.0 in the previous month, pointing to its highest reading since May despite marking the third straight month of decline in factory activity. Output contracted at a slower rate, and new orders dropped the least in three months. Meanwhile, employment returned to growth amid efforts to work extended shift patterns. Backlogs of work fell for a seventh month, though at the softest rate in this period. Export demand remained weak, with new foreign orders down for the fifth time in six months. Purchasing activity eased modestly, and vendor performance was broadly stable for the fifth month. On prices, input costs rose at one of the slowest rates on record amid weak demand, prompting firms to cut selling prices for the first time in nearly three years. Looking ahead, business confidence improved on plans for advertising and product launches but stayed near its lowest since late 2022.