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 contraction in the sequence, with both output and new orders declining at a softer pace, as sanctions reduced customer purchasing power. Meantime, new export orders decreasing 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. source: Markit Economics

Services PMI in Russia averaged 51.91 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 June of 2022.

Services PMI in Russia is expected to be 50.00 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 48.50 44.50 points May 2022
Manufacturing PMI 50.80 48.20 points May 2022
Composite PMI 48.20 44.40 points May 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
48.50 44.50 58.50 12.20 2010 - 2022 points Monthly

News Stream
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
Russia Services Shrink at Softer Pace
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.
2022-05-06
Russia Service Sector Activity Shrinks the Most in 22 Months
The S&P Global Russia Services PMI dropped to a 22-month low of 38.1 in March 2022 from 52.1 in the previous month, amid greater economic and geoopolitical uncertainty. The latest reading also pointed to the second contraction in the sector since the start of the year, with new orders falling the most since May 2020 and export orders shrinking at the steepest rate since April 2020's series record low. Also, employment fell at the sharpest pace since June 2020, with backlogs of work falling further, and at a marked rate that was the quickest in almost two years. On the price front, both input and output cost inflation accelerated to series-record highs amid hikes in supplier charges and unfavorable exchange rate movement. Finally, services firms signalled a marked turnaround in sentiment from the strong degree of optimism seen in February, as the level of confidence dropped to the lowest in two years.
2022-04-05