Russia Services PMI2010-2021 Data | 2022-2023 Forecast | Calendar | Historical

The IHS Markit Russia Services PMI increased to 55.8 in March 2021, the highest since August, from 52.2 in the previous month. The latest reading marked the third straight month of expansion in the sector as both output and new orders growth accelerated. At the same time, new export orders advanced for the first time in over a year and the sharpest rate since October 2019. Also, employment rose at the quickest rate since November 2019. On the price front, input cost inflation accelerated the most since January 2019, due to a rise in prices from the suppliers, and unfavourable exchange rate movements. Also, output charges inflation accelerated to the quickest since January 2019. Finally, business morale remained positive, due to hopes of looser restrictions.

The IHS Markit Russia Services PMI declined to 52.2 in February 2021 from 52.7 in the previous month. The latest reading marked the second straight month of expansion in the sector, as both output and new orders growth slowed. At the same time, new exports orders, however, continued to contract. Meantime, the job shedding accelerated to the fastest since December 2019, despite signs of a lack of pressure on capacity. On the price front, input cost inflation accelerated to the second-sharpest since January 2019, due to a rise in prices from the supplier, greater transportation costs, and unfavourable exchange rate movements. Also, output charges inflation accelerated solidly to the second-fastest for almost a year. Finally, business morale remained positive, due to hopes of an end to the COVID-19 pandemic, looser restrictions and a boost to client demand when measures are lifted.

The IHS Markit Russia Services PMI increased sharply to 52.7 in January 2021 from 48.0 in the previous month. The latest reading marked the first monthly expansion in the sector since last September, as both output and new orders returned to growth. New export orders, however, fell once again, albeit at the slowest rate since last August. Meantime, the job shedding eased to the slowest in the current five-month sequence, as pressure on capacity built, while the backlogs of work rose for the first time since November 2017 following a renewed rise in new order inflows. On the price front, input cost inflation eased for the second straight month, due to a rise in prices from the supplier, fuel, and unfavourable exchange rate movements. Also, output charges inflation slowed to a 6-month low. Finally, business morale improved to the highest since October 2019, due to hopes of an end to the COVID-19 pandemic and social-distancing measures.

The IHS Markit Russia Services PMI declined slightly to 48.0 in December 2020 from 48.2 in the previous month. The latest reading marked the third monthly contraction in the sector. New business shrank for the third straight month, as subdues customer demand and a drop in purchasing power among clients. Meanwhile, new orders from abroad continued to fall, with new export orders eased from that seen in November. As a result, pressure on capacity remained subdued, and backlogs of work continued to be depleted in December, albeit at the slowest pace for three months. On the price front, input cost inflation accelerated to the second fastest since March, due to a rise in prices from the supplier and unfavourable exchange rate movements. Meanwhile, output charges increased solidly and quickened to the fastest since April 2019. Finally, business morale improved to a four-month high, due to hopes of an end to the pandemic.