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.