The S&P Global Russia Services PMI fell to 49.9 in August 2022 from July's 13-month high of 54.7 in July. The latest reading pointed to the first contraction in the sector since May, amid a drop in output, this was linked to reduced purchasing power at some customers and the impact of sanctions. Also, employment declined marginally, due to efforts to cut costs and lower business requirements, with backlogs of work falling at a modest pace. Meanwhile, new order growth eased, but it was the second-fastest since August 2020. However, new export orders shrank for the sixth month running, attributed to the ongoing impact of sanctions on foreign client demand. On the price front, input cost inflation accelerated to the fastest since May, while output cost inflation eased to the second slowest in 2022 so far. Finally, business sentiment weakened to the lowest in the current four-month sequence of positive sentiment as firms expressed concerns regarding purchasing power at customers. source: Markit Economics

Services PMI in Russia averaged 51.91 points from 2010 until 2022, 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 October of 2022.

Services PMI in Russia is expected to be 49.40 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 51.00 points in 2023 and 50.50 points in 2024, according to our econometric models.

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Russia Services PMI



Related Last Previous Unit Reference
Manufacturing PMI 52.00 51.70 points Sep 2022
Services PMI 49.90 54.70 points Aug 2022
Composite PMI 50.40 52.20 points Aug 2022

Russia Services PMI
The Markit Russia Services PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 300 private service sector companies. The Index tracks variables such as sales, employment, inventories and prices. An index reading above 50 indicates an overall increase in that variable, below 50 an overall decrease.
Actual Previous Highest Lowest Dates Unit Frequency
49.90 54.70 58.50 12.20 2010 - 2022 points Monthly

News Stream
Russia Services Sector Slips Back into Contraction
The S&P Global Russia Services PMI fell to 49.9 in August 2022 from July's 13-month high of 54.7 in July. The latest reading pointed to the first contraction in the sector since May, amid a drop in output, this was linked to reduced purchasing power at some customers and the impact of sanctions. Also, employment declined marginally, due to efforts to cut costs and lower business requirements, with backlogs of work falling at a modest pace. Meanwhile, new order growth eased, but it was the second-fastest since August 2020. However, new export orders shrank for the sixth month running, attributed to the ongoing impact of sanctions on foreign client demand. On the price front, input cost inflation accelerated to the fastest since May, while output cost inflation eased to the second slowest in 2022 so far. Finally, business sentiment weakened to the lowest in the current four-month sequence of positive sentiment as firms expressed concerns regarding purchasing power at customers.
2022-09-05
Russia Services PMI Rises to 13-Month High
The S&P Global Russia Services PMI increased to 54.7 in July 2022 from 51.7 in June. The latest reading pointed to the second straight of expansion in the sector and the strongest growth since June of 2021, as output grew to the fastest rate in over a year, amid a sharper upturn in new business which grew at its fastest since August 2020. However, new export orders dropped substantially, attributed to the ongoing impact of sanctions on foreign client demand. Meanwhile, employment rose for the first time since November 2021 and at the sharpest pace for a year, while backlogs of work rose for the first time in a year-and-a-half. On the price front, input cost inflation eased for the fourth month running, while output cost inflation accelerated. Finally, business sentiment strengthened to a ten-month high, amid hopes of further rises in new business and client demand.
2022-08-03
Russia Services Activity Returns to Growth
The S&P Global Russia Services PMI increased to 51.7 in June 2022 from 48.5 in May. The latest reading pointed to the first expansion in the sector in four months as output expanded marginally while new orders increased for the first time in nine months and at the fastest pace for a year, supported by rises in domestic demand. However, new exports orders fell further, with the rate of decline was among the sharpest on record, reflected the impact of sanctions on foreign client demand. Meanwhile, employment dropped marginally, amid a further fall in backlogs of work. On the price front, input cost inflation was among the steepest on record but eased to the softest since February, while output cost inflation slowed to the softest since February 2021. Finally, business sentiment strengthened to the strongest since February, amid hopes of further rises in new business and client demand.
2022-07-05