The IHS Markit Russia Services PMI decreased to 56.5 in June 2021 from 57.5 in the previous month. The latest reading marked the sixth straight month of expansion in the sector, and was still the second-fastest since August 2020, as both output and new orders continued to expand, despite easing. At the same time, new export orders growing at the fastest pace for over two years. Also, employment growth accelerated at the quickest rate since May 2011. On the price front, input cost inflation eased, while output charges inflation slowed but it was the second steepest since January 2019. Finally, business morale strengthened to the highest since May 2019, due to hopes over increases in customer demand and an economic recovery following the pandemic. source: Markit Economics

Services PMI in Russia averaged 52.22 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 July of 2021.

Services PMI in Russia is expected to be 53.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Services PMI in Russia to stand at 52.50 in 12 months time. 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.

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Russia Services PMI

Actual Previous Highest Lowest Dates Unit Frequency
56.50 57.50 58.50 12.20 2010 - 2021 points Monthly


News Stream
Russia Services Sector Growth Eases in June
The IHS Markit Russia Services PMI decreased to 56.5 in June 2021 from 57.5 in the previous month. The latest reading marked the sixth straight month of expansion in the sector, and was still the second-fastest since August 2020, as both output and new orders continued to expand, despite easing. At the same time, new export orders growing at the fastest pace for over two years. Also, employment growth accelerated at the quickest rate since May 2011. On the price front, input cost inflation eased, while output charges inflation slowed but it was the second steepest since January 2019. Finally, business morale strengthened to the highest since May 2019, due to hopes over increases in customer demand and an economic recovery following the pandemic.
2021-07-05
Russia Services Growth at 9-Month High
The IHS Markit Russia Services PMI increased to 57.5 in May 2021 from 55.2 in the previous month. The latest reading marked the fifth straight month of expansion in the sector and the sharpest pace since last August, as output continued to expand, while new orders growth accelerated to the steepest rate since last August. At the same time, new export orders advanced for the third straight month. Also, employment growth accelerated at the quickest rate since February 2018. On the price front, input cost inflation accelerated to the fastest pace since June 2008, due to a rise in prices from the suppliers, and increases fuel costs. Also, output charges inflation accelerated to the fastest since January 2019. Finally, business morale moderated slightly, amid stronger customers demand.
2021-06-03
Russia Services Growth Eases in April
The IHS Markit Russia Services PMI declined to 55.2 in April 2021 from 55.8 in the previous month. The latest reading marked the fourth straight month of growth in the sector as output continued to expand, while new orders growth accelerated to the steepest since August 2020. At the same time, new export orders advanced for the second straight month and the sharpest rate since May 2019. Also, employment rose at the quickest rate since February 2019. On the price front, input cost inflation eased to the slowest for three months, due to a rise in prices from the suppliers, and unfavourable exchange rate movements. Also, output charges inflation softened slightly but stayed closed to March’s 26-month high. Finally, business morale strengthened to the highest since May 2019, due to hopes stronger demand conditions and the development of new service lines.
2021-05-06
Russia Services Growth Strongest in 7 Months
The IHS Markit Russia Services PMI increased to 55.8 in March 2021, the highest since August, from 52.2 in the previous month. The latest reading marked the third straight month of expansion in the sector as both output and new orders growth accelerated. At the same time, new export orders advanced for the first time in over a year and the sharpest rate since October 2019. Also, employment rose at the quickest rate since November 2019. On the price front, input cost inflation accelerated the most since January 2019, due to a rise in prices from the suppliers, and unfavourable exchange rate movements. Also, output charges inflation accelerated to the quickest since January 2019. Finally, business morale remained positive, due to hopes of looser restrictions.
2021-04-05

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.