The S&P Global Russia Services PMI declined to 55.9 in April 2023 from 58.1 in the previous period, which was the highest reading since August 2020. It was the third straight month of expansion in the sector, as both output and new orders continued rising, driven by domestic demand. However, the new export orders fell for the thirteenth time in the last 14 months, albeit only marginally. Meanwhile, employment grew for the third month, with the rate of job creation being the strongest since June 2021. On the pricing front, input cost inflation eased to the weakest since July 2020, while output cost inflation accelerated to the highest since December 2022. Finally, sentiment improved to an eight-month peak amid hopes for greater client demand and new customer acquisitions. source: Markit Economics
Services PMI in Russia averaged 51.84 points from 2010 until 2023, 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 June of 2023.
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 50.50 points in 2024 and 50.30 points in 2025, according to our econometric models.