The IHS Markit Russia Services PMI declined to 48.8 in October 2021 from 50.5 in the previous month, signaling the fastest contraction in the sector since December last year, amid resurgence COVID-19 infections. Output returned to contraction, while new orders fell for the first time in this year, amid weaker client demand. At the same time, backlogs of work fell at a faster, due to weaker demand conditions and a decrease in new order inflows. Meanwhile, employment declined marginally, amid efforts to cut costs and an associated increase in redundancies. On the price front, input cost inflation accelerated to the highest since May, due to greater supplier and utility surcharges, while output price inflation rose to the quickest in four months. Finally, business morale weakened amid concerns regarding the pandemic and future demand. source: Markit Economics
Services PMI in Russia averaged 52.17 points from 2010 until 2021, reaching an all time high of 58.50 points in July of 2020 and a record low of 12.20 points in April of 2020. This page provides the latest reported value for - Russia Services PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Russia Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.
Services PMI in Russia is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Services PMI is projected to trend around 51.70 points in 2022 and 52.00 points in 2023, according to our econometric models.