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.

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Russia Services PMI



Related Last Previous Unit Reference
Manufacturing PMI 53.50 52.60 points May 2023
Services PMI 55.90 58.10 points Apr 2023
Composite PMI 55.10 56.80 points May 2023

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
55.90 58.10 58.50 12.20 2010 - 2023 points Monthly

News Stream
Russia Services Sector Growth Remains Robust
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.
2023-05-04
Russia Services PMI Rises to Over 2-1/2 Year High
The S&P Global Russia Services PMI increased to 58.1 in March 2023 from 53.1 in the previous month. The reading pointed to the second straight month of expansion in the sector, with the rate of expansion being the fastest since August 2020, as stronger demand conditions and a further upturn in new orders. New export orders grew for the first time in 13 months with the pace of expansion being the fastest since October 2021. Meanwhile, employment expanded for the second month in a row and at a modest pace that was the quickest since June 2021. On the pricing front, input and output cost inflation eased to the softest pace since January 2021, amid some reports of a moderation in price hikes at suppliers. Lastly, sentiment slipped from February's recent high, however, and was slightly weaker than the long-run series average.
2023-04-05
Russia Services Sector Returns to Growth
The S&P Global Russia Services PMI increased to 53.1 in February 2023 from 48.7 in the previous month. The reading pointed to the first expansion in the sector since September last year, with the rate of expansion the second-fastest since July 2021, amid the sharpest rise in new orders since August 2022. However, new export orders declined further, due to the impact of sanctions and greater competition for clients. Meanwhile, employment expanded for the first time since last July, albeit at only a fractional pace. On the pricing front, input cost inflation eased to the softest pace since August 2021, amid higher supplier prices, greater wage bills and unfavourable exchange rate movements. Meanwhile, output cost inflation accelerated amid efforts to pass-through elevated input costs to clients. Lastly, sentiment improved to a seven-month high, amid hopes of greater client demand and the introduction of new service lines.
2023-03-03