The S&P Global Russia Services PMI increased to 54.7 in July 2022 from 51.7 in June. The latest reading pointed to the second straight of expansion in the sector and the strongest growth since June of 2021, as output grew to the fastest rate in over a year, amid a sharper upturn in new business which grew at its fastest since August 2020. However, new export orders dropped substantially, attributed to the ongoing impact of sanctions on foreign client demand. Meanwhile, employment rose for the first time since November 2021 and at the sharpest pace for a year, while backlogs of work rose for the first time in a year-and-a-half. On the price front, input cost inflation eased for the fourth month running, while output cost inflation accelerated. Finally, business sentiment strengthened to a ten-month high, amid hopes of further rises in new business and client demand. 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 August of 2022.

Services PMI in Russia is expected to be 50.10 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 51.00 points in 2023 and 52.00 points in 2024, according to our econometric models.

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Russia Services PMI



Related Last Previous Unit Reference
Services PMI 54.70 51.70 points Jul 2022
Manufacturing PMI 50.30 50.90 points Jul 2022
Composite PMI 52.20 50.40 points Jul 2022

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
54.70 51.70 58.50 12.20 2010 - 2022 points Monthly

News Stream
Russia Services PMI Rises to 13-Month High
The S&P Global Russia Services PMI increased to 54.7 in July 2022 from 51.7 in June. The latest reading pointed to the second straight of expansion in the sector and the strongest growth since June of 2021, as output grew to the fastest rate in over a year, amid a sharper upturn in new business which grew at its fastest since August 2020. However, new export orders dropped substantially, attributed to the ongoing impact of sanctions on foreign client demand. Meanwhile, employment rose for the first time since November 2021 and at the sharpest pace for a year, while backlogs of work rose for the first time in a year-and-a-half. On the price front, input cost inflation eased for the fourth month running, while output cost inflation accelerated. Finally, business sentiment strengthened to a ten-month high, amid hopes of further rises in new business and client demand.
2022-08-03
Russia Services Activity Returns to Growth
The S&P Global Russia Services PMI increased to 51.7 in June 2022 from 48.5 in May. The latest reading pointed to the first expansion in the sector in four months as output expanded marginally while new orders increased for the first time in nine months and at the fastest pace for a year, supported by rises in domestic demand. However, new exports orders fell further, with the rate of decline was among the sharpest on record, reflected the impact of sanctions on foreign client demand. Meanwhile, employment dropped marginally, amid a further fall in backlogs of work. On the price front, input cost inflation was among the steepest on record but eased to the softest since February, while output cost inflation slowed to the softest since February 2021. Finally, business sentiment strengthened to the strongest since February, amid hopes of further rises in new business and client demand.
2022-07-05
Russia Services Activity Shrinks at Softer Pace
The S&P Global Russia Services PMI increased to 48.5 in May 2022 from 44.5 in April. The latest reading pointed to the third straight month of contraction in the service sector, but the weakest path in the sequence, with both output and new orders declining at softer paces as sanctions reduced customer purchasing power. Meantime, new export orders decreased sharply, with the rate of decline was among the fastest since the data began in September 2014. At the same time, employment dropped at a solid rate, with backlogs of work declining substantially. On the price front, input cost inflation was among the steepest in over 20 years but eased to a three-month low, while output cost inflation slowed to the softest since February. Finally, business sentiment returned to positive territory amid hopes of an improvement in domestic economic conditions and greater client demand. However, the degree of confidence was below the series average.
2022-06-03