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. source: Markit Economics
Services PMI in Russia averaged 52.12 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 April of 2021.
Services PMI in Russia is expected to be 54.00 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 52.00 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.