The S&P Global Russia Services PMI increased to 44.5 in April 2022 from March’s 22-month low of 38.1 in the previous month. The latest reading pointed to the second straight month of contraction in the service sector, with both output and new orders shrinking as sanctions reduced customer purchasing power. Meantime, new export orders declined for the second times in as many months, with the exception of March's low, was the strongest since May 2020. At the same time, employment fell to the second-sharpest since October 2020. Despite lower employment, the backlogs of work fell at the fastest pace since May 2020. On the price front, input cost inflation accelerated to the second-sharpest on record. As a result, output cost inflation accelerated to second-fastest since the data began in October 2001. Finally, business sentiment remained pessimistic on inflation pressures and a further fall in employment amid efforts to cut costs. source: Markit Economics
Services PMI in Russia averaged 51.93 points from 2010 until 2022, 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 May of 2022.
Services PMI in Russia is expected to be 50.50 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 52.00 points in 2023, according to our econometric models.