Russia’s S&P Global Manufacturing PMI inched up to 49.9 in October from 49.8 in September, indicating a softer contraction in the sector for a third consecutive month, as output and new orders fell marginally. New orders decreased for the third consecutive month amid reports of competitive pressures, muted demand, and reduced purchasing power among customers, with overseas demand falling the most since May 2022. Output declined for the third month, albeit at a slightly slower pace, while backlogs of work depleted for the twenty-first consecutive month. Firms responded to lower workloads by scaling back employment again, while purchasing activity fell at a faster pace. On the price front, input costs rose due to higher material costs and increased supplier charges, though input cost inflation eased to a seven-month low. Output price inflation slowed to its lowest level since April amid competitive pressures. Finally, business sentiment improved to a four-month high.