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.

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Russia Services PMI


Related Last Previous Unit Reference
Services PMI 48.80 50.50 points Oct/21
Manufacturing PMI 51.60 49.80 points Oct/21
Composite PMI 49.50 50.50 points Oct/21

News Stream
Russia Services Sector Shrinks the Most in 10 Months
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.
2021-11-03
Russia Services Sector Returns to Growth
The IHS Markit Russia Services PMI increased to 50.5 in September 2021 from 49.3 in the previous month, indicating a renewed expansion in Russian service sector business activity, supported by stronger domestic client demand, as new sales increased at a faster pace despite a return to contraction in new export orders. Meanwhile, output grew marginally. At the same time, employment rose, despite the rate of job creation was only fractional overall. On the price front, input cost inflation accelerated to a four-month high, due to a rise in greater supplier and fuel costs. Meanwhile, the pace of charge inflation was the steepest for three months and sharp overall. Finally, business morale strongest since May 2019, amid hopes of stronger demand over the coming months.
2021-10-05
Russia Services Activity Shrinks for 1st Time in 8 Months
The IHS Markit Russia Services PMI decreased to 49.3 in August 2021 from 53.6 in the previous month. The latest reading marked the first contraction in the sector since last December, as output declined for the first time in 2021, while new orders growth eased for the third month running from May's recent high and was the slowest in the current eight-month sequence. Meanwhile, new export orders returned to growth. At the same time, employment fell for the first time since January, as backlogs of work fell sharply. On the price front, input cost inflation eased to a seven-month low, while output cost inflation slowed to a six-month low. Finally, business morale deteriorated to a nine-month low, amid concerns regarding inflation and future demand.
2021-09-03

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.